This is a rare opportunity to have such a small cap company do a spin out that will allow shareholders of record on OCTOBER 29th ,2024 of Cruz Battery Metals  (BKTPF.usa and CRUZ.cn) to receive FREE SHARES of a new company (Makenita Resources Inc.) and still maintain 100% of their Cruz shares.  Cruz also still has a significant treasury to work with after the spin out takes place, and considering the majority of the money raised on Cruz was done at .10 and the shares are  currently at .05, management is very optimistic about the company leading into the record date and beyond.  Historically when companies issue free shares or do a forward split (recent examples of this would be Tesla or Chipotle splitting the shares)  the stock usually trades well leading into the split, as current shareholders don’t want to lose the free share and new shareholders are attracted by the free share.

 

Cruz Battery sets record date for Hector spinout

2024-10-04 08:39 ET – News Release

Mr. James Nelson reports

CRUZ ANNOUNCES RECORD DATE FOR SPIN-OUT OF HECTOR SILVER-COBALT PROJECT

Further to Cruz Battery Metals Corp.’s news release dated Aug. 1, 2024, and Sept. 6, 2024, the company has entered into an arrangement agreement with its wholly owned subsidiary, Makenita Resources Inc., pursuant to which the company intends to (i) transfer all of its rights, title and interest in and to its Hector silver-cobalt project, consisting of 126 contiguous unpatented mineral claims totalling 2,243 hectares (5,542 acres), located within the Coleman and Gillies Limit townships, Larder Lake mining division, Timiskaming district, Ontario, Canada, and (ii) spinout all of the securities of Makenita received in consideration for the Hector property to Cruz’s securityholders on a pro rata basis, all pursuant to a statutory plan of arrangement to be effected under Part 9, Division 5, of the Business Corporations Act (British Columbia) (BCBCA).

The record date will be Oct. 29, 2024. The mailing date will be Nov. 5, 2024, and the meeting date will be Dec. 11, 2024. The meeting is being held by notice and access and we recommend and encourage everyone to vote in person or by proxy in support of the arrangement.

James Nelson, president of Cruz, states: “We now have a record date for the spinout. You must be a shareholder of record on Oct. 29, 2024, to receive the free shares of Makenita and maintain 100 per cent of your Cruz shares as well. This is a very nice bonus for shareholders of record to receive free shares without any additional cost to them. Cruz has well over a million dollars in the treasury currently allowing Cruz the ability to be nimble and opportunistic to maximize the shareholders’ value in the short and medium term going forward.”

The arrangement will result in Makenita becoming a separate reporting issuer in each of Alberta, British Columbia and Ontario, and will allow it to focus on the development of the Hector property. The Hector property will be Makenita’s material property for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects). The company will focus on the development of its Solar lithium project and Clayton Valley lithium project in Nevada and its Idaho cobalt belt project in Idaho and intends to seek to acquire more advanced assets of business opportunities of merit