TORONTO - Seabridge Gold Inc. (TSX:SEA) (NYSE:SA) received shareholder approval for its plan to spin out the Courageous Lake gold project into a separate company called Valor Gold Corp.
Shareholders voted 99.76% in favor at a special meeting. A total of 62,829,369 common shares were represented.
Seabridge shares trade at $30.13, up 146% over the past year. According to Bond.az analysis, the stock has a market capitalization of $3.24 billion.
Under the arrangement, Seabridge shareholders will receive one Valor share for every approximately 1.957 Seabridge shares held.
The arrangement requires approval from the British Columbia Supreme Court, with a hearing scheduled for May 27, 2026.
Valor has applied for listing on the Toronto Stock Exchange and OTCQB Venture Market.
