Riverside Resources Receives Conditional TSX-V Approval for Spin-Out of Ontario Gold Projects and Engages ICP Securities Inc. for Automated Market Making Services
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.
Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) ha ricevuto l'approvazione condizionata dalla TSX Venture Exchange per scorporare i suoi progetti d'oro in Ontario in Blue Jay Gold Corp. L'accordo sarà votato dagli azionisti il 31 marzo 2025. Gli azionisti riceveranno un'azione di Blue Jay Gold per ogni cinque azioni Riverside detenute.
L'azienda fa dei paralleli con il suo precedente successo nello scorporo di Capitan Silver, dove le azioni distribuite hanno raddoppiato il loro valore dopo lo scorporo. Riverside manterrà le royalties sui suoi progetti d'oro in Ontario (Pichette, Oakes e Duc) continuando a lavorare su progetti di oro, rame e terre rare in Columbia Britannica e Sonora, Messico, attraverso partnership finanziate.
Inoltre, Riverside ha ingaggiato ICP Securities Inc. per servizi di market making automatizzati a C$7.500 mensili per un termine iniziale di quattro mesi, rinnovabile mensilmente successivamente. L'azienda ha anche presentato un Rapporto Tecnico NI 43-101 per il Progetto Pichette in Ontario.
Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) ha recibido la aprobación condicional de la TSX Venture Exchange para escindir sus proyectos de oro en Ontario en Blue Jay Gold Corp. El acuerdo será votado por los accionistas el 31 de marzo de 2025. Los accionistas recibirán una acción de Blue Jay Gold por cada cinco acciones de Riverside que posean.
La empresa traza paralelismos con su anterior escisión exitosa de Capitan Silver, donde las acciones distribuidas se duplicaron en valor después de la escisión. Riverside retendrá regalías sobre sus proyectos de oro en Ontario (Pichette, Oakes y Duc) mientras continúa trabajando en proyectos de oro, cobre y elementos de tierras raras en Columbia Británica y Sonora, México, a través de asociaciones financiadas.
Además, Riverside ha contratado a ICP Securities Inc. para servicios de creación de mercado automatizados a C$7,500 mensuales por un término inicial de cuatro meses, renovable mensualmente después. La empresa también ha presentado un Informe Técnico NI 43-101 para el Proyecto Pichette en Ontario.
리버사이드 리소스(Riverside Resources) (TSXV: RRI) (OTCQB: RVSDF)는 온타리오 금 프로젝트를 블루 제이 골드 Corp로 분사하기 위한 TSX 벤처 거래소의 조건부 승인을 받았습니다. 이 거래는 2025년 3월 31일 주주들의 투표에 부쳐질 예정입니다. 주주들은 리버사이드 주식 5주당 블루 제이 골드 주식 1주를 받게 됩니다.
회사는 이전에 성공적으로 분사한 카피탄 실버와의 유사성을 언급하며, 분사 이후 배포된 주식의 가치가 두 배로 증가했다고 밝혔습니다. 리버사이드는 온타리오 금 프로젝트(피셋, 오크스, 덕)에 대한 로열티를 유지하면서 브리티시컬럼비아와 멕시코 소노라에서 금, 구리 및 희토류 프로젝트에 대한 작업을 계속할 것입니다.
또한 리버사이드는 ICP 증권사와 월 C$7,500에 자동 시장 조성 서비스 계약을 체결했으며, 초기 4개월 계약 후 매월 갱신 가능합니다. 회사는 또한 온타리오의 피셋 프로젝트에 대한 NI 43-101 기술 보고서를 제출했습니다.
Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) a reçu l'approbation conditionnelle de la TSX Venture Exchange pour scinder ses projets d'or en Ontario dans Blue Jay Gold Corp. L'accord sera soumis au vote des actionnaires le 31 mars 2025. Les actionnaires recevront une action de Blue Jay Gold pour chaque cinq actions Riverside détenues.
La société établit des parallèles avec sa précédente scission réussie de Capitan Silver, où les actions distribuées ont doublé de valeur après la scission. Riverside conservera des redevances sur ses projets d'or en Ontario (Pichette, Oakes et Duc) tout en continuant à travailler sur des projets d'or, de cuivre et d'éléments des terres rares en Colombie-Britannique et à Sonora, au Mexique, par le biais de partenariats financés.
De plus, Riverside a engagé ICP Securities Inc. pour des services de création de marché automatisés à C$7,500 par mois pour une première période de quatre mois, renouvelable mensuellement par la suite. L'entreprise a également déposé un Rapport Technique NI 43-101 pour le Projet Pichette en Ontario.
Riverside Resources (TSXV: RRI) (OTCQB: RVSDF) hat die bedingte Genehmigung der TSX Venture Exchange erhalten, um seine Goldprojekte in Ontario in Blue Jay Gold Corp auszugliedern. Die Vereinbarung wird am 31. März 2025 von den Aktionären abgestimmt. Aktionäre erhalten eine Blue Jay Gold-Aktie für jeweils fünf gehaltene Riverside-Aktien.
Das Unternehmen zieht Parallelen zu seiner vorherigen erfolgreichen Ausgliederung von Capitan Silver, bei der die verteilten Aktien nach der Ausgliederung im Wert verdoppelt wurden. Riverside wird die Lizenzgebühren für seine Goldprojekte in Ontario (Pichette, Oakes und Duc) behalten und gleichzeitig an Gold-, Kupfer- und Seltenen Erden-Projekten in British Columbia und Sonora, Mexiko, durch finanzierte Partnerschaften weiterarbeiten.
Darüber hinaus hat Riverside ICP Securities Inc. für automatisierte Market-Making-Dienste zu monatlich C$7.500 für eine anfängliche Laufzeit von vier Monaten engagiert, die danach monatlich erneuert werden kann. Das Unternehmen hat auch einen NI 43-101 Technischen Bericht für das Pichette-Projekt in Ontario eingereicht.
- Spin-out structure mirrors previous successful Capitan Silver spin-out where share value doubled
- Company retains royalties on all Ontario gold projects
- Ongoing exploration programs funded by partners, providing carried interests and potential future royalties
- Shareholders face 5:1 dilution ratio in Blue Jay Gold share distribution
- New C$7,500 monthly expense for market making services
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2025) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce that it has received the TSX Venture Exchange's conditional approval for the previously announced spin-out of Blue Jay Gold Corp. ("Blue Jay") by way of a statutory plan of arrangement (the "Arrangement") pursuant to the arrangement provisions of the Business Corporations Act (British Columbia). The Arrangement will be voted on by Riverside shareholders at its Annual General and Special Shareholder Meeting scheduled for March 31, 2025 (the "Meeting"). This potential share distribution offers Riverside shareholders, prior to the record date, a similar opportunity to the previous Capitan Silver (CAPT.V) spin-out. In that transaction, Riverside shareholders received shares of Capitan Silver, which have since doubled in value compared to their price at the time of the spinout.
The Arrangement aligns with Riverside's strategic plans and key 2025 catalysts, positioning the company for continued progress in the coming months. As part of this strategy, Riverside will retain royalties on each of its Ontario gold projects-Pichette, Oakes, and Duc-adding to its growing portfolio of mineral royalties across the U.S., Canada, and Mexico. Additionally, Riverside is actively working on gold, copper, and rare earth element (REE) projects in British Columbia and Sonora, Mexico, with exploration programs funded by partners. These partnerships provide Riverside with carried interests and potential future royalties, further enhancing long-term value for shareholders. Additional information concerning the Arrangement is contained in Riverside's news release dated January 28, 2025 and will be provided to Riverside shareholders in an information circular in respect of the Meeting.
"The spinout of Blue Jay Gold is an exciting opportunity for Riverside shareholders to gain direct exposure to a new, focused gold exploration company," said John-Mark Staude, CEO of Riverside Resources. "Under the Arrangement, shareholders will receive one share of Blue Jay Gold for every five shares of Riverside held, giving them a stake in a company dedicated to advancing these high-potential Ontario gold projects. We've seen this strategy create additional value in the past. Our previous spinout of Capitan Mining gave shareholders direct ownership in a separate exploration company, and those shares went on to appreciate significantly. By structuring Blue Jay Gold in a similar way, we are unlocking the potential of these assets while allowing Riverside to retain upside through royalties. This approach can provide both immediate and long-term value for our shareholders."
In a recent interview, John-Mark Staude, President of Riverside Resources, and Geordie Mark, CEO of Blue Jay Gold, discuss their 2025 plans, including the upcoming Blue Jay Gold spin-out and exploration initiatives in Ontario and Mexico. Listen to the full conversation here: https://www.kereport.com/2025/02/21/riverside-resources-plans-for-2025-blue-jay-gold-spin-out-update-ontario-gold-projects/.
The Company has taken an additional key step toward completing the spinout with the filing of the National Instrument 43-101 Technical Report for the Pichette Project in Ontario with the TSX Venture Exchange. This report provides scientific data and general context for interested parties to review. The filing aligns with the authorization process for Riverside's planned Blue Jay Gold share spinout, which will be voted on at the AGM at the end of March. A similar approach was used for Capitan Mining.
The Company has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C
ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
Qualified Person for the NI 43-101 Report on Pichette Project
Locke Goldsmith, P Geo, P Eng is the qualified person and independent of the Company for the purpose of this transaction and this technical report which has been submitted to the TSX Venture Exchange.
About ICP Securities Inc.
ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
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
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
Eric Negraeff
Investor Relations
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com
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/241826
FAQ
What is the share distribution ratio for Riverside Resources (RVSDF) Blue Jay Gold spin-out?
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