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Sovereign Gold Company lodges prospectus for lithium spin-off

Sovereign Gold Company (ASX:SOC) has now lodged the prospectus for its spin-off of the Clayton Valley (Nevada) Lithium Project into the newly formed Marquee Resources.
Sovereign Gold Company lodges prospectus for lithium spin-off
Sovereign Gold lodges prospectus for lithium spin-off.

(Currently trading as SOCDA as shares consolidated, and soon to be known as Force Commodities ASX:4CE).

The company now awaits ASX and/or shareholder approval to ensure it complies with ASX Listing Rule 11.4 and the transaction is not affected.

Sovereign shareholders will benefit via the retention by Sovereign of a 9.375% equity position in the new company, and will also be given priority entitlement to subscribe for shares in the IPO.

The directors of Sovereign believe that the spin-off and IPO provides the best avenue for the company to realise potential significant value from its Nevada Lithium assets.

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