Riverside Resources has announced the successful completion of its arrangement to spin out shares of Blue Jay Gold to its shareholders, effective 22 May 2025.

Shareholders of Riverside received one new common share of Riverside and one-fifth of a common share of Blue Jay for each Riverside share held.

The new Riverside shares are set to begin trading on the TSX Venture Exchange (TSXV) at market opening on 26 May 2025.

Riverside president and CEO John-Mark Staude said: “The completion of the Blue Jay spin-out marks a significant milestone in Riverside’s ongoing strategy to unlock value through disciplined corporate development and capital deployment.

“We believe that Blue Jay, with its strong portfolio of Canadian gold assets, dedicated management team and clean capital structure, is well-positioned for exploration and growth. This spin-out not only provides Riverside shareholders with direct exposure to a focused new exploration company, but it also reinforces Riverside’s track record of creating value through strategic actions that serve the company and shareholders.”

On the same day as the arrangement, Riverside and Blue Jay amended their original agreement from 27 January 2025.

This amendment allows both companies to waive certain conditions of the Arrangement Agreement, with all other terms remaining unchanged.

Blue Jay CEO Geordie Mark said: “Blue Jay is launching with a clear and compelling mandate to build long-term shareholder value through focused gold exploration in Canada, one of the world’s most stable and well-endowed mining jurisdictions.

“Our initial asset base includes high-quality projects with significant discovery potential and our team brings deep technical expertise, capital markets experience and a commitment to disciplined exploration.”

Blue Jay is also preparing to apply for its shares to be listed on the TSXV.

Following this corporate manoeuvre, Blue Jay will become a reporting issuer in Alberta, British Columbia, and Ontario, adhering to all continuous disclosure requirements under Canadian securities laws.

Additionally, Riverside Resources has expanded its mining interests by acquiring and transferring the title of the Maria Luisa Copper Property in Sonora, Mexico.

This acquisition, completed in June last year, adds a significant 16km² to Riverside's portfolio within the Laramide age porphyry Cu-(Au, Mo) district, directly adjacent to its Ariel property.

"Riverside Resources finalises Blue Jay Gold shares spin-out" was originally created and published by Mining Technology, a GlobalData owned brand.