Linear Minerals Corp. Announces Share Distribution Record Date and the Share Issuance Date Regarding the Plan of Arrangement
Rhea-AI Summary
Linear Minerals (OTCQB:LINMF) set the Share Distribution Record Date for the approved Plan of Arrangement at November 25, 2025, with completion and distribution of Westlinear shares and transfer of the Pontax West Lithium Property scheduled for November 28, 2025.
Under the Arrangement, Linear shareholders receive one Westlinear share for every 10 Linear shares held at the record date; holders who exercise options or warrants before that date will be eligible on the same basis. The Arrangement was approved by shareholders on October 22, 2025 and by the Supreme Court of British Columbia on October 29, 2025. Westlinear will be a reporting issuer in BC, Alberta and Ontario and may seek an exchange listing, with no guarantee of listing.
Positive
- Record date set for share distribution: November 25, 2025
- Distribution and asset transfer scheduled: November 28, 2025
- Shareholder and court approvals secured: Oct 22 & Oct 29, 2025
Negative
- Westlinear may not obtain an exchange listing, no guarantee provided
- Shareholders must exercise options/warrants before Nov 25, 2025 to receive Westlinear shares
News Market Reaction
On the day this news was published, LINMF declined 10.33%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / November 6, 2025 / Linear Minerals Corp. ("Linear" or the "Company") (CSE:LINE)(OTCQB:LINMF)(WKN:A2J C89) announces the share distribution record date of November 25, 2025 (the "Share Distribution Record Date") pursuant to the Plan of Arrangement with Westlinear Minerals Corp. dated August 1, 2025 (the "Arrangement").
Under the terms of the Arrangement, Linear shareholders will be issued one share of Westlinear Minerals Corp. ("Westlinear") with respect to every 10 shares of Linear owned on the Share Distribution Record Date.
The Company plans to complete the Arrangement and distribute Westlinear shares to the Company's shareholders and transfer the Pontax West Lithium Property to Westlinear on November 28, 2025.
Holders of Linear options and warrants, who exercise their options and/or warrants before the Share Distribution Record Date, will also be entitled to receive one share of Westlinear with respect to every 10 shares of Linear.
Upon completion of the Arrangement, Company's shareholders will ultimately own shares in the Company and Westlinear. Westlinear will become a reporting issuer in British Columbia, Alberta and Ontario. Westlinear may apply for listing of its shares on a securities exchange in the future; however, there can be no guarantee, assurance or representation that the Westlinear shares will ever be listed on any stock exchange.
The Arrangement was approved by the shareholders of the Company on October 22, 2025, and by the Supreme Court of British Columbia on October 29, 2025.
Additional details regarding the Arrangement are described in the information circular of the Company, dated August 28, 2025, which is available at www.sedarplus.ca under the profile of the Company.
On behalf of the board of directors.
"Gurminder Sangha"
CEO, Director
For further information, please contact the Company at: info@linearminerals.com
Forward Looking Statements
When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this news release include, amongst others, the Company's plans regarding the Arrangement. Such statements and information reflect the current view of the Company. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements or implied by such forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs; shareholder, court and regulatory approvals; and general development, market and industry conditions.
The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of its securities or its financial or operating results (as applicable). The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. The Company does not undertake to update this information at any particular time except as required in accordance with applicable laws.
SOURCE: Linear Minerals Corp.
View the original press release on ACCESS Newswire
FAQ
What is the Share Distribution Record Date for Linear Minerals (LINMF)?
When will Linear Minerals (LINMF) distribute Westlinear shares and transfer the Pontax West Lithium Property?
What is the exchange ratio for Westlinear shares under the Arrangement for LINMF shareholders?
Do LINMF option and warrant holders qualify for Westlinear shares?
Has the Plan of Arrangement for LINMF been approved by shareholders and the court?
Will Westlinear shares be listed on a stock exchange after the LINMF split?
