As a result of the Arrangement, among other things, shareholders of Orex (the "Orex Shareholders") received one Common Shares for each common share of Orex held by such Orex Shareholder immediately before completion of the Arrangement. A total of 103,290,199 Common Shares were distributed to Orex Shareholders under the Arrangement.
Gary Cope, Barsele's President and Chief Executive Officer, said "We are very pleased that the spin-out has been completed. This will enable both Barsele and Orex to be more geographically focused and potentially add immediate value to shareholders."
For details of the Arrangement, please see Barsele's listing application to the TSX-V dated September 25, 2015, which has been filed under Barsele's SEDAR profile at www.sedar.com.
ABOUT BARSELE MINERALS CORP.
Barsele is a Canadian-based junior exploration company comprised of highly qualified mining professionals. Barsele's current mineral project is the Barsele Project in Sweden, which is a joint venture with Agnico Eagle Mines Limited.
ON BEHALF OF THE BOARD OF DIRECTORS
This news release may contain forward-looking statements, including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Barsele undertakes no obligation to update such statements, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.