Vulcan Minerals Inc. (TSXV:VUL) announced that its shareholders have approved a plan of arrangement to create a potash-focused subsidiary.

The press release is quoted as saying:

The Company will distribute to the shareholders of Vulcan Minerals, one share of the newly spun out company, Red Moon Potash Inc., for every 3.812 shares held in Vulcan Minerals.

Click here to read the entire news release.