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The latest announcement is out from Fosterville South Exploration ( (TSE:GPAC) ).
Great Pacific Gold Corp., a company involved in gold exploration, has announced a spin-out transaction to distribute shares of a new entity, Walhalla Gold Corp., to its shareholders. This move aims to create immediate value for shareholders and involves the Walhalla Gold Project in Victoria, Australia, known for its historic gold production. The project includes a district-scale land package with advanced and greenfield targets, such as the Pinnacles target, which is ready for drilling. The transaction will also provide Great Pacific with $1.5 million in cash and a 2% Net Smelter Royalty, maintaining its stake in the project’s future success.
More about Fosterville South Exploration
Average Trading Volume: 163,444
Technical Sentiment Signal: Sell
Current Market Cap: C$46.67M
See more insights into GPAC stock on TipRanks’ Stock Analysis page.