Shareholders and optionholders of Vancouver-based copper/gold explorer and developer NGEx Resources have approved the spin-out of the company’s Los Helados project and other exploration properties into a wholly-owned subsidiary NGEx Minerals.
The arrangement will include a transfer of the Los Helados project, in Chile, and exploration properties along with $7.3-million in cash to the new company, the shares of which will be distributed to existing NGEX Resources shareholders.