Riverside Res Inc Stock Price, News & Analysis

Riverside Resources (RVSDF) has provided an update on its option agreement with Questcorp Mining for the Union Project in Sonora, Mexico. As part of the agreement, Questcorp has issued 6,285,722 common shares (representing 9.9% ownership) to Riverside and made a cash payment of CAD $25,000.

Riverside, serving as the project operator, is advancing pre-drilling work including team organization, access planning, and water sourcing. The company's technical team is finalizing contractor selection for initial fieldwork and geophysical surveys to refine high-priority drill targets. The Union Project, located in the Sonora carbonate-replacement belt, shows potential for gold-silver-lead-zinc and copper discoveries through its historical mine workings, surface mineralization, and structural controls.

Riverside Resources (RVSDF) has announced the completion date for spinning out its subsidiary Blue Jay Gold Corp on May 22, 2025. Shareholders will receive one new Riverside share and one Blue Jay share for every five Riverside shares held as of 12:01 AM on the effective date. To be eligible, investors must purchase Riverside shares by May 21, 2025. Blue Jay plans to list on the TSXV in the second half of 2025.

The spinout involves distributing 14,956,693 Blue Jay shares to Riverside shareholders. Riverside will maintain exposure to Blue Jay's success through a 2% NSR royalty on each of Blue Jay's three properties. The arrangement, approved by shareholders on March 31, 2025, follows Riverside's successful project generator business model and previous similar transaction with Capitan Silver.

Riverside Resources' (RVSDF) subsidiary Blue Jay Gold Corp. has successfully completed a non-brokered private placement, raising $922,000 through the issuance of 2,305,000 common shares at $0.40 per share. Following this financing, Riverside maintains a 74.80% ownership in Blue Jay Gold. The placement included participation from company directors and officers, who subscribed for 268,750 shares. This financing follows Blue Jay's previously announced plan of arrangement, which received shareholder approval on March 31, 2025, and court approval on April 3, 2025. The remaining Blue Jay shares held by Riverside will be distributed to Riverside's shareholders as part of the arrangement.

Riverside Resources (RVSDF) has finalized a definitive option agreement with Questcorp Mining for the La Union gold-polymetallic project in Sonora, Mexico. The 2,520.2-hectare project features carbonate replacement deposits with historical mining operations. Under the agreement, Questcorp can acquire 100% interest in the project by making CAD $100,000 in cash payments, issuing shares totaling 19.9% equity to Riverside, and completing CAD $5.5 million in exploration expenditures over four years. Riverside will remain the project operator and receive a 2.5% net smelter royalty upon option exercise. The project includes eight drill-ready target areas, with immediate focus on the Union Mine and Famosa Mine sites. The first-year work program includes CAD $1 million in exploration expenditures.

Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) has received final court approval from the Supreme Court of British Columbia on April 3, 2025, for its planned spin-out of Blue Jay Gold Corp. The arrangement, which involves separating Blue Jay's equity interest under the Business Corporations Act, awaits final TSX Venture Exchange approval.

The transaction is expected to complete in Q2 2025, with Blue Jay's common shares planned for listing on the TSXV post-arrangement. Detailed information about the arrangement can be found in Riverside's management information circular dated February 18, 2025, available on SEDAR+ and the company's website.

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) has announced the filing of its management information circular for a special meeting to approve a spinout transaction with Blue Jay Gold Corp. The meeting, scheduled for March 31, 2025, will seek shareholder approval for distributing Blue Jay shares through a plan of arrangement.

The transaction will separate Blue Jay's Ontario Properties (Pichette-Clist, Oakes, and Duc Gold Projects) from Riverside's other assets. Following the arrangement, shareholders will hold shares in both companies, with Blue Jay planning to list on the TSX Venture Exchange.

Blue Jay plans to complete two financing rounds: a $800,000 private placement at $0.40 per share and another offering combining $1,000,000 at $0.50 per share with flow-through shares at $0.70. The arrangement requires 66⅔% shareholder approval and is expected to close in Q2 2025.

Riverside Resources (RVSDF) has provided updates on its exploration programs across Canada and Mexico for H1 2025. In Canada, the company reported strong sampling results from the Deer Park Gold Project, while the Revel Project showed a 7-kilometer carbonatite-style REE system. The Taft Project confirmed rare earth and gold mineralization.

In Mexico, the company identified four priority drill targets at the Cuarentas Gold Project, while the Ariel Copper Project targets an undrilled porphyry copper system. The Union Gold-Copper Project hosts high-grade carbonate replacement deposits. The company maintains royalties including a 2% NSR on portions of the Tajitos project with Fresnillo PLC and Sugarloaf Peak gold project.

Riverside will present at PDAC 2025 in Toronto and continues to progress on the proposed spinout of Blue Jay Gold, expected in the first half of 2025.

Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) has received conditional TSX Venture Exchange approval for spinning out its Ontario gold projects into Blue Jay Gold Corp. The arrangement will be voted on by shareholders on March 31, 2025. Shareholders will receive one Blue Jay Gold share for every five Riverside shares held.

The company draws parallels to its previous successful Capitan Silver spin-out, where distributed shares doubled in value post-spinout. Riverside will retain royalties on its Ontario gold projects (Pichette, Oakes, and Duc) while continuing work on gold, copper, and rare earth element projects in British Columbia and Sonora, Mexico through funded partnerships.

Additionally, Riverside has engaged ICP Securities Inc. for automated market making services at C$7,500 monthly for an initial four-month term, renewable monthly thereafter. The company has also filed a NI 43-101 Technical Report for the Pichette Project in Ontario.