The TSX Venture Exchange has accepted for filing documentation in connection with a plan of arrangement between Eagle Plains Resources Ltd., Eagle Royalties Ltd. (Spinco) and 2513756 Alberta Ltd., pursuant to the terms of an arrangement agreement dated Feb. 28, 2023, in conjunction with an amalgamation agreement dated Feb. 28, 2023, and a court-approved plan of arrangement under the provisions of the Business Corporations Act (Alberta).

The plan of arrangement was completed on April 27, 2023. Under the terms of the arrangement agreement in conjunction with the amalgamation agreement, the company has transferred a portfolio of 53 royalty interests to Spinco, effected through a plan of arrangement. As a result of the spinout transaction, Spinco will issue approximately 42 million of the Spinco's shares, of which 5.2 million of the Spinco's shares will be retained by the company with the remaining 36.8 million of the Spinco's shares to be distributed to the company's shareholders, whereby the shareholders of the company receive one-third of a share of Spinco for one share of the company held.

For further information, see the company's news releases dated March 1, 2023, and May 19, 2023, available on its profile on SEDAR. The full particulars of the arrangement are set forth in the company's information circular dated March 17, 2023, which is available under the company's profile on SEDAR.