Mountain Lake Resources Inc. (TSXV: MOA) reported that shareholders have voted in favour of the previously announced arrangement where Marathon will become the 100% owner of the Valentine Gold Lake Project. Mountain Lake’s remaining projects will be transferred to Mountain Lake Minerals Inc. (Spinco), a newly incorporated exploration company.
As quoted in the press release:
At today’s special meeting, Mountain Lake’s common shareholders voted 99.9% in favour of the resolution to approve the Arrangement. In addition, Mountain Lake’s common shareholders voted 78.3% in favour of the Spinco 10% rolling stock option plan.