In connection with the plan, Monarch will first spin out to its shareholders its other mineral properties and certain other assets and liabilities to a new company .
Following the spin out, each outstanding common share of Monarch will be exchanged for
The new company will hold Monarch's Beaufor mine, McKenzie Break property, Croinor Gold property,
The Wasamac gold project is 15 kilometres west of
Wasamac has existing proven and probable mineral reserves of 1.8 million ounces of gold.
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Companies in this story: (TSX:MQR, TSX:YRI)
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