| Home : April 2015 : April 10, 2015 News : Paramount Gold and Silver Corp. Provides Spin-Off Transaction Update |
Paramount Gold and Silver Corp. Provides Spin-Off Transaction Update |
April 10, 2015
WINNEMUCCA, NEVADA--(Marketwired - April 9, 2015) - Paramount Gold and Silver Corp. (NYSE MKT:PZG)(TSX:PZG) ("Paramount" or the "Company") announced today that the Securities and Exchange Commission ("SEC") has declared effective the Registration Statement on Form S-1 filed by the Company's subsidiary Paramount Gold Nevada Corp. ("SpinCo" or "Paramount Gold Nevada") in connection with the spin-off of Paramount Gold Nevada as a separate, publicly traded company. As previously announced, Company stockholders of record at the close of business on April 14, 2015 will be entitled to receive one share of common stock of SpinCo for every 20 shares of Paramount common stock held by such stockholder, payable or issuable upon the closing of the previously announced merger (the "merger") of the Company and Coeur Mining, Inc. ("Coeur") (NYSE:CDE), provided that they continue to hold their Paramount shares at the time of closing of the merger. Cash will be paid in lieu of issuing fractional shares of stock.
http://www.marketwired.com/mw/release.do?id=2008379&sourceType=3
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