Corporate ActionMay 22, 2026, 05:12 PM
Seabridge Gold Shareholders Approve Courageous Lake Spin-out
AI Summary
Seabridge Gold Inc. announced that shareholders overwhelmingly approved the special resolution for the Courageous Lake spin-out, with 99.76% of votes in favor. The arrangement involves transferring the Courageous Lake gold project to Valor Gold Corp., which is expected to become a separately listed issuer. Seabridge shareholders will receive one Valor Share for every approximately 1.957 Seabridge shares held. The transaction is anticipated to be completed on or about June 3, 2026, pending British Columbia Supreme Court approval.
Key Highlights
- Shareholders approved the Courageous Lake spin-out with 99.76% of votes.
- Valor Gold Corp.'s restricted and deferred share unit plan was approved by 99.18% of votes.
- Seabridge will transfer its 100% interest in the Courageous Lake gold project to Valor Gold Corp.
- Shareholders will receive one Valor Share for every approximately 1.957 Seabridge shares held.
- The arrangement is subject to British Columbia Supreme Court approval, with a hearing on May 27, 2026.
- The spin-out is anticipated to be completed on or about June 3, 2026.
- New Seabridge and Valor shares are expected to list on TSX and NYSE on June 5, 2026.
Price Impact
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