Riverside Resources Moves Ahead on Plan to Spin Out Blue Jay to Shareholders After Approval at the Annual and Special Meeting
Riverside Resources (RVSDF) has received shareholder approval for spinning out its subsidiary Blue Jay Gold Corp, with completion expected in May-June 2025. The arrangement was approved by over 99% of shareholders at the March 31, 2025 meeting.
Under the plan, Riverside shareholders will receive 1/5 of a Blue Jay common share for each Riverside share held. This will result in shareholders owning stakes in two distinct public companies: Riverside, focusing on royalty generation and project generation for gold, copper, and rare earth elements in the Americas, and Blue Jay, which will concentrate on exploring gold projects in northwestern Ontario.
The spin-out transaction awaits final court approval and TSXV listing approval for Blue Jay shares. Post-separation, Blue Jay will operate with its own management team and capital structure, while Riverside continues advancing its diverse mineral portfolio through partnerships and royalties.
Riverside Resources (RVSDF) ha ricevuto l'approvazione degli azionisti per scorporare la sua controllata Blue Jay Gold Corp, con completamento previsto per maggio-giugno 2025. L'accordo è stato approvato da oltre il 99% degli azionisti durante l'assemblea del 31 marzo 2025.
Secondo il piano, gli azionisti di Riverside riceveranno 1/5 di un'azione ordinaria di Blue Jay per ogni azione di Riverside detenuta. Ciò porterà gli azionisti a possedere partecipazioni in due distinti gruppi pubblici: Riverside, che si concentra sulla generazione di royalty e sulla creazione di progetti per oro, rame e elementi delle terre rare nelle Americhe, e Blue Jay, che si concentrerà sull'esplorazione di progetti auriferi nel nord-ovest dell'Ontario.
La transazione di scorporo attende l'approvazione finale del tribunale e l'approvazione della quotazione TSXV per le azioni di Blue Jay. Dopo la separazione, Blue Jay opererà con il proprio team di gestione e struttura di capitale, mentre Riverside continuerà a far avanzare il suo diversificato portafoglio minerario attraverso partnership e royalty.
Riverside Resources (RVSDF) ha recibido la aprobación de los accionistas para escindir su filial Blue Jay Gold Corp, con la finalización prevista para mayo-junio de 2025. El acuerdo fue aprobado por más del 99% de los accionistas en la reunión del 31 de marzo de 2025.
Bajo el plan, los accionistas de Riverside recibirán 1/5 de una acción común de Blue Jay por cada acción de Riverside que posean. Esto resultará en que los accionistas posean participaciones en dos empresas públicas distintas: Riverside, que se centra en la generación de regalías y en la creación de proyectos para oro, cobre y elementos de tierras raras en las Américas, y Blue Jay, que se concentrará en la exploración de proyectos de oro en el noroeste de Ontario.
La transacción de escisión espera la aprobación final del tribunal y la aprobación de cotización de TSXV para las acciones de Blue Jay. Después de la separación, Blue Jay operará con su propio equipo de gestión y estructura de capital, mientras Riverside continúa avanzando en su diverso portafolio mineral a través de asociaciones y regalías.
리버사이드 리소스 (RVSDF)는 자회사 블루 제이 골드 Corp의 분사를 위해 주주 승인을 받았으며, 완료는 2025년 5월에서 6월로 예상됩니다. 이 계획은 2025년 3월 31일 회의에서 99% 이상의 주주에 의해 승인되었습니다.
계획에 따라 리버사이드 주주들은 보유한 리버사이드 주식 1주당 블루 제이 보통주 1/5주를 받게 됩니다. 이는 주주들이 두 개의 독립된 상장 회사에 대한 지분을 소유하게 되는 결과를 가져옵니다: 리버사이드는 아메리카에서 금, 구리 및 희토류 요소에 대한 로열티 생성 및 프로젝트 생성을 집중하고, 블루 제이는 북서 온타리오에서 금 프로젝트 탐사에 집중할 것입니다.
분사 거래는 최종 법원 승인 및 블루 제이 주식에 대한 TSXV 상장 승인을 기다리고 있습니다. 분리 후 블루 제이는 자체 관리 팀과 자본 구조로 운영되며, 리버사이드는 파트너십 및 로열티를 통해 다양한 광물 포트폴리오를 계속 발전시킬 것입니다.
Riverside Resources (RVSDF) a reçu l'approbation des actionnaires pour scinder sa filiale Blue Jay Gold Corp, avec une finalisation prévue en mai-juin 2025. L'arrangement a été approuvé par plus de 99 % des actionnaires lors de la réunion du 31 mars 2025.
Dans le cadre du plan, les actionnaires de Riverside recevront 1/5 d'une action ordinaire de Blue Jay pour chaque action Riverside détenue. Cela entraînera une possession d'actions dans deux entreprises publiques distinctes : Riverside, qui se concentre sur la génération de redevances et la création de projets pour l'or, le cuivre et les éléments des terres rares en Amérique, et Blue Jay, qui se concentrera sur l'exploration de projets aurifères dans le nord-ouest de l'Ontario.
La transaction de scission attend l'approbation finale du tribunal et l'approbation de la cotation TSXV pour les actions de Blue Jay. Après la séparation, Blue Jay fonctionnera avec sa propre équipe de direction et sa propre structure de capital, tandis que Riverside continuera à faire avancer son portefeuille minéral diversifié grâce à des partenariats et des redevances.
Riverside Resources (RVSDF) hat die Zustimmung der Aktionäre zur Abspaltung seiner Tochtergesellschaft Blue Jay Gold Corp erhalten, wobei der Abschluss für Mai-Juni 2025 erwartet wird. Die Vereinbarung wurde von über 99% der Aktionäre in der Sitzung am 31. März 2025 genehmigt.
Im Rahmen des Plans erhalten Riverside-Aktionäre 1/5 einer Blue Jay-Stammaktie für jede gehaltene Riverside-Aktie. Dies führt dazu, dass die Aktionäre Anteile an zwei verschiedenen öffentlichen Unternehmen besitzen: Riverside, das sich auf die Erzeugung von Royalties und die Projektentwicklung für Gold, Kupfer und seltene Erden in Amerika konzentriert, und Blue Jay, das sich auf die Erkundung von Goldprojekten im Nordwesten von Ontario konzentrieren wird.
Die Abspaltungstransaktion wartet auf die endgültige Genehmigung des Gerichts und die Genehmigung der TSXV-Notierung für die Blue Jay-Aktien. Nach der Trennung wird Blue Jay mit einem eigenen Managementteam und einer eigenen Kapitalstruktur arbeiten, während Riverside weiterhin sein vielfältiges Mineralportfolio durch Partnerschaften und Royalties vorantreibt.
- Creation of two focused public companies enhancing shareholder value
- Strong shareholder approval with 99.992% votes in favor
- Blue Jay to have independent management and capital structure
- Strategic separation allows for focused resource development
- Share dilution through 1:5 distribution ratio
- Transaction completion subject to court and TSXV approval
- Execution risks associated with corporate restructuring
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce that the spin-out of its subsidiary, Blue Jay Gold Corp. ("Blue Jay"), has been approved by shareholders and is now moving forward, with completion potentially expected in May or June of this year. This news follows the plan and actions announced in the Company's press release dated February 28, 2025, at its annual and special meeting of shareholders held on March 31, 2025 (the "Meeting"), shareholders approved the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) (the "BCBCA") involving the spin-out of its equity interest in its subsidiary, Blue Jay Gold Corp.
The Arrangement was approved by over
- Riverside, which will continue to focus on its royalty generation and project generator model targeting gold, copper, and rare earth elements in the Americas, and
- Blue Jay, which will pursue exploration and development of the Pichette-Clist, Oakes and Duc Gold Projects located in northwestern Ontario.
"We are very pleased with the strong shareholder support for the spin-out of Blue Jay, which reflects the confidence in Riverside's strategy to unlock value through focused project generation and royalties," said John-Mark Staude, President and CEO of Riverside. "This transaction enables both companies to sharpen their strategic priorities, and we're excited to see Blue Jay carry forward the Ontario gold assets while Riverside continues to advance its copper, gold, and critical metals portfolio in the Americas."
"We're thrilled to launch Blue Jay as a fresh, compelling gold exploration business in one of Canada's most proven and mining-friendly jurisdictions," added Geordie Mark, President and CEO of Blue Jay. "Our flagship projects are located in northwestern Ontario, a region that has been producing gold for decades and is home to established infrastructure and major operating gold mines; both past and present. With strong community support, a clean share structure, and a highly prospective land package near active production, Blue Jay offers investors early exposure to a focused exploration company with significant discovery potential."
John-Mark Staude, CEO of Riverside Resources, and Geordie Mark, CEO of Blue Jay Gold, would like to express their appreciation to shareholders for their support of the spin-out. Click this video LINK where both executives share their enthusiasm for the road ahead and reaffirm their commitment to driving value for shareholders through focused execution and exploration.
All other matters presented to shareholders at the Meeting were also approved, including the receipt of the audited financial statements for the fiscal year ended September 30, 2024, setting the number of directors at five, the election of John-Mark Staude, James Clare, Walter Henry, James Ladner and Bryan Wilson to its board of directors for the ensuing year, the re-appointment of Davidson & Company LLP as auditor and authorization for the directors to fix the auditor's remuneration, and the re-approval of Riverside's rolling stock option plan. The special resolution approving the Arrangement pursuant to Section 288 of the BCBCA was virtually unanimously approved by
Subject to final court approval and satisfaction of customary closing conditions, including conditional listing approval by the TSX Venture Exchange (the "TSXV") for the Blue Jay Shares, the transaction is expected to be completed in Q2 2025.
Riverside believes that the Arrangement will enhance shareholder value by allowing both Riverside and Blue Jay to pursue focused strategies aligned with their respective assets. Following the transaction, Blue Jay will have its own dedicated management team and capital structure to accelerate exploration of the Ontario properties, while Riverside will continue to advance its portfolio of gold, copper, and rare earth projects through partnerships and royalties.
The Blue Jay Shares are expected to be listed on the TSXV following completion of the Arrangement. Additional details about the Arrangement are included in the Company's management information circular dated February 18, 2025, available on Riverside's SEDAR+ profile at www.sedarplus.ca and on the Company's website at www.rivres.com.
About Riverside Resources Inc.
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO | Eric Negraeff Investor Relations Riverside Resources Inc. |
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246840
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