Origen Resources Inc. (CNSX:ORGN) entered into an arrangement agreement to spin off Forty Pillars Mining Corp. on April 1, 2021. Under the arrangement, Origen will transfer its Silver Dollar property and approximately CAD 0.07 million in cash to Forty Pillars in exchange for the number of common shares of Forty Pillars as is equal to 0.2 of the outstanding Origen common shares, a reorganization of Origen's share capital and a distribution of the Forty Pillars shares to Origen shareholders such that each Origen shareholder will receive one new share of Origen and 0.12 of a Forty Pillars share in exchange for each Origen common share held by the Origen shareholder at the effective time of the arrangement. Origen will retain Forty Pillars Shares as part of the arrangement which are not transferred to Origen shareholders.

The proposed Board of Forty Pillars on completion is Nader Vatanchi, Abbey Abidiye, Alex Klenman, Gary Schellenberg and Mike Sieb. The transaction is subject to approval from Supreme Court of British Columbia, listing approval on Canadian Securities Exchange, approval from Board of Directors and shareholders of Origen Resources and fairness opinion for Origen and tax advice. As of May 12, 2021, shareholders of Origen Resources Inc. have approved the transaction. Completion is expected to take place on May 21, 2021. Olympia Trust Company acted as transfer agent to Origen Resources.