Canadian Orebodies Restructures Non-Iron Ore Assets

Canadian Orebodies Inc. (TSXV:CO) announced it will restructure its assets by spinning out the non iron ore assets into a new company to be incorporated.

Canadian Orebodies’ President & CEO, Gordon MicKinnon said:

The proposed restructuring of Canadian Orebodies’ assets is designed to allow Canadian Orebodies to become a pure play iron ore company and SpinCo [as defined below] to focus on the lithium and rare metals projects acquired from Canadian Orebodies. This transaction will enable Canadian Orebodies to focus on the growth of its Haig Inlet deposit, while still giving our shareholders exposure to discovery stage opportunities through SpinCo. We believe this pure play structure will allow each company to be properly valued in the market independently, ultimately resulting in enhanced shareholder value. We look forward to keeping shareholders updated on the progress of the Arrangement.

Click here to read the Canadian Orebodies Inc. (TSXV:CO) press release.