Marvel Discovery Corp. (OTC PINK: IMTFF) has scheduled an extraordinary general meeting (EGM) for April 23, 2021, to consider a proposed Spin-Out plan. This plan aims to transfer its Serpent River/Pecors and Wicheeda North properties into a new subsidiary named Power One Resources Corp.. Shareholders will receive one common share of Power One for every five shares held. The transaction is subject to shareholder approval, as well as approvals from the British Columbia Supreme Court and the TSX Venture Exchange. Further details will be disclosed later.
International Montoro Resources Inc. has announced its name change to Marvel Discovery Corp., effective February 24, 2021. The new trading symbol will be MARV. The company has been listed on the TSX Venture Exchange for over 25 years and is focused on exploring various resource properties across Canada, including Au, Ni-Cu-PGE, and REE prospects. CEO Karim Rayani expressed excitement about the rebranding and future plans for 2021 aimed at enhancing shareholder value.
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International Montoro Resources Inc. has filed for an exploration permit to drill on its 1,840-hectare Pecors project in Ontario, targeting nickel, copper, and PGM mineralization. Previous drilling indicated a significant mineralized zone, with potential for a massive sulphide deposit. The company has secured a financing facility of up to C$2 million from Alumina Partners, allowing draws of C$250,000 as needed. Proceeds will support project advancements and working capital. The Pecors site is strategically located near a major mining camp, enhancing its potential.