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Other

Linear receives court approval for Pontax West spinout

By The Northwire Desk — AI Analysis Oct 31, 2025 · 04:56 LINE · 0.05 Linear Minerals Corp
LINE · Price

Executive Summary

  • Linear Minerals Corp. received Supreme Court of British Columbia approval on Oct. 29, 2025, for a plan of arrangement to spin off its Pontax West lithium property in Quebec into a new subsidiary, Westlinear Minerals Corp. (Spinco).
  • Shareholders will receive one share of Spinco for every 10 shares of Linear Minerals held on the record date, effectively splitting the company into two entities: Linear Minerals (focusing on other mineral properties) and Spinco (focused on the Pontax West lithium property).
  • The arrangement was previously approved by shareholders on Oct. 23, 2025, and is now pending final acceptance by the Canadian Securities Exchange to complete the transaction.

Key Details

  • Transaction Structure: Spin-off of the Pontax West lithium property into a wholly-owned subsidiary, Westlinear Minerals Corp. (Spinco).
  • Court Approval: Approved by the Supreme Court of British Columbia on Oct. 29, 2025.
  • Shareholder Approval: Approved by shareholders on Oct. 23, 2025.
  • Exchange Ratio: Shareholders will receive one share of Spinco for every 10 shares of Linear Minerals Corp. owned on the share distribution record date.
  • Record Date: To be determined by the Board of Directors and announced via a separate news release.
  • Option/Warrant Holders: Holders who exercise options and/or warrants before the record date are entitled to receive one share of Spinco for every 10 shares of the company.
  • Asset Transfer: The Pontax West lithium property will be transferred to Spinco.
  • Post-Completion Structure: Linear Minerals will focus on its other mineral properties, while Spinco will focus exclusively on the Pontax West lithium property.
  • Pending Conditions: Completion is subject to acceptance by the Canadian Securities Exchange.
  • Reference Documents: Details are described in the information circular dated Aug. 28, 2025, available on SEDAR+.
Read the original news release →

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