Aurbis Resources Initiates Plans for Proposed Spin-Out of Ducros Nickel Project
Vancouver, British Columbia--(Newsfile Corp. - August 27, 2026) - Aurbis Resources Corp. (CSE: AURR) (OTCQB: QNICF) (FSE: 7IB) ("Aurbis" or the "Company") announces the Company has initiated plans to spin-out (the "Spin-Out") its 100% owned Quebec mineral claims, known as the Ducros Nickel Project (the "Spin-Out Assets") through the distribution of its wholly owned subsidiary, 1560357 BC Ltd. ("1560357") which holds the Spin-Out Assets, to the shareholders of Aurbis. The proposed Spin-Out project is still in the early stages and there is no guarantee that the Company will proceed with the Spin-Out.
Aurbis currently intends to structure the Spin-Out by way of a Plan of Arrangement ("POA") to better enable 1560357 to apply to list the common shares on a recognized Canadian venture exchange. Full details, including share exchange ratios, capitalization, distribution record dates, and listing timeline, will be provided in the POA that will be described once finalized in a subsequent news release and in a management information circular to be distributed to shareholders. It is currently anticipated that the Spin-Out project, if it proceeds, would target a late 2026 / early 2027 listing date, subject to the receipt of applicable shareholder, court, and regulatory approvals. It is anticipated that 1560357 will undertake a private placement to fund the business of 1560357 in conjunction with the Spin-Out.
Aurbis will establish a special committee of independent directors to evaluate the proposed Spin- Out and to, inter alia , consider whether the Spin-Out is fair to Aurbis shareholders and in the best interests of the Company.
Proposed directors and management of 1560357 have not been determined. New appointments to board and management, including a Chief Executive Officer, are expected to be made and announced in conjunction with the mailing of the management information circular which will need to be prepared in connection with the proposed Spin-Out. Aurbis and 1560357 will have separate sources of funding and independent operations. Shareholders are cautioned that the final details of the Spin-Out are still to be determined and there is no certainty that the Spin-Out will be completed on the terms currently proposed or at all.
On behalf of the Board of Directors
David Patterson Chairman and Director 1 (855) 764-2535 (QNICKEL) info@quebecnickel.com
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The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors should chang e.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311775
TMX Newsfile
August 27, 2026 - 4:30 AM PDT
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