Sign up Australia
Proactive Investors - Run By Investors For Investors

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.



Register here to be notified of future 4CE Company articles
View full 4CE profile View Profile

Force Commodities Timeline

Related Articles

picture of coal mine infrastructure
May 11 2017
The focus is to add further royalties to the portfolio.
picture of field
March 07 2017
2016 saw Harvest Minerals' share price soar, and a ‘ripper year’ lies ahead in 2017, according to its executive chairman
picture of electric car
Mon
Finncap estimates the shares are worth 11p on a risked basis or more than double the current share price.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use