Sokoman Minerals Updates Shareholders on Vinland Shares Spin-Out
Sokoman Minerals Updates Shareholders on
Vinland Shares Spin-Out
St. John's, Newfoundland--(Newsfile Corp. - April 28, 2025) -
Sokoman Minerals Corp.
(TSXV: SIC)
(OTCQB: SICNF) ("Sokoman" or the "Company") further to its
April 25, 2025 news release
, the
Company announces that its planned spin-out of approximately half of its shares of Vinland Lithium Inc.
("Vinland") has been completed. Accounts holding at least 8,000 Sokoman shares will see
approximately 50 Vinland shares credited for each 8,000 Sokoman shares owned with the credit
effective May 7, 2025.
Details of the spin-out are contained in the Company's February 4, 2025 management Information
Circular, filed under the Company's profile on SEDAR+. Sokoman will spin-out to its shareholders a total
of 2,025,126 common shares of Vinland and will continue to hold 2,000,000 Vinland shares.
Vinland has
approximately 10,000,000 issued shares.
Benton Resources Inc. is spinning out the same number of
Vinland shares to its shareholders.
Sokoman shares after the spin-out, herein "New Sokoman" shares,
are identical to Sokoman shares currently listed ("Old Sokoman"), except that they are post-spin-out of
Vinland.
New Sokoman shares have a new identifying security number CA83410N1096.
No Vinland Shares will be listed on the Exchange on closing of the Plan of Arrangement; however,
Vinland has made a separate application to the Exchange for listing of the Vinland Shares. The
Sokoman New Common Shares will be listed on the Exchange at market open on Tuesday May 6, 2025,
and the Sokoman Old Common Shares will be delisted from the Exchange effective close of business
Monday May 5, 2025.
Accounts holding less than 8,000 Sokoman shares will not participate in the
Vinland share distribution.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company and one of the largest landholders in the
province of Newfoundland and Labrador, Canada's emerging gold district. The Company's primary
focus is its portfolio of gold projects; the 100%-owned flagship, advanced-stage Moosehead,
Crippleback Lake, and the district-scale Fleur de Lys project near Baie Verte in northwestern
Newfoundland, targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and
Cavanacaw deposits in Northern Ireland. The Company entered a strategic alliance with Benton
Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope,
and Kepenkeck in Newfoundland.
In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major
developer of lithium projects and processing plants in the USA, and exactly the right partner to have to
advance the lithium project. For full details of the agreement, please refer to the Company's
press
release dated October 11, 2023
.
Projects optioned with optionee fully vested are:
East Alder Project optioned to Canterra Minerals Inc. (SIC retains shares of CTM plus 1% NSR)
Startrek Project optioned to Thunder Gold (SIC retains shares of TGOL plus 1% NSR)
For more information, please contact:
Timothy Froude, P.Geo., President & CEO
T:
709-765-1726
E:
Cathy Hume, VP Corporate Development, Director
T:
416-868-1079 x 251
E:
Website:
www.sokomanmineralscorp.com
:
@SokomanMinerals
:
@SokomanMinerals
LinkedIn:
@SokomanMineralsCorp
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.
Investors are cautioned that trading in the securities of the Corporation should be considered highly
speculative. Except for historical information contained herein, this news release contains forward-
looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman
Minerals Corp. will not update these forward-looking statements to reflect events or circumstances
after the date hereof. More detailed information about potential factors that could affect financial
results is included in the documents filed from time to time with the Canadian securities regulatory
authorities by Sokoman Minerals Corp.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the forward-looking statements, including,
without limitation: risks related to failure to obtain adequate financing on a timely basis and on
acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related to the maintenance of stock exchange listings;
and other risks and uncertainties related to the Company's prospects, properties and business
detailed elsewhere in the Company's disclosure record. Investors are cautioned against attributing
undue certainty to forward-looking statements. These forward-looking statements are made as of the
date hereof and the Company does not assume any obligation to update or revise them to reflect new
events or circumstances. Actual events or results could differ materially from the Company's
expectations or projections.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/250038