Stinger Resources has been spun out of American Creek Resources, (TSX.V: AMK), to give value to some assets that were being ignored by the market.
I suspect this is also in case American Creek are bought out of their own projects, (which are highly prospective and they have a free carry to a production decision) as this protects their other properties, located near Stewart in the ‘Golden Triangle’ area of British Columbia, Canada.
Stinger Resources to commence trading on the TSX Venture Exchange today
Cardston, Alberta – March 3, 2021) –Stinger Resources Inc.(TSXV: STNG) (the “Company” or “Stinger“) is pleased to announce that it has now received final approval from the TSX Venture Exchange and its common shares will commence trading on Friday, March 5, 2021, under the symbol “STNG”.
As a result of the completion of the Arrangement, Stinger holds interests in various properties, including the Dunwell Property in British Columbia, Canada. American Creek has also transferred a total of $2,500,000 to Stinger.
The Arrangement was approved by American Creek shareholders on December 3, 2020 and the Supreme Court of British Columbia on December 7, 2020.
Pursuant to the Arrangement, 45,000,389 shares of Stinger have been issued to the shareholders of American Creek, resulting in each American Creek shareholder receiving 0.11324 Stinger shares for each American Creek share held at the time the Arrangement was completed.
“We are very pleased to have successfully completed this Spinout transaction. We again thank all of the American Creek shareholders for their confidence and support over the years and we look forward to that support continuing to be rewarded as we anticipate the future success of American Creek as well as newly launched Stinger.”
Darren Blaney, CEO, Stinger Resources
About Stinger Resources Inc.:
The Company also holds the D1 McBride project, also located in the “Golden Triangle”.
In addition, Stinger owns the Gold Hill project located near Fort Steele, as well as optioned interests in the Ample Goldmax, Silver Side and Glitter King properties, all of which are located in other prospective areas of the Province of British Columbia.
Further information about Stinger can be found on its website HERE
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans” or variations of such words and phrases or statements that certain actions, events or results “will” occur). Such forward-looking information involves known and unknown risks that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Stinger does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.
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