NGEx Minerals Receives Court Approval for Valle Ancho Spin-Out

04:40 PM EST, 11/03/2026 (MT Newswires) -- NGEx Minerals (NGEX.TO) after trade Tuesday said it received final approval from the Supreme Court of British Columbia for its spin-out of the Valle Ancho Project into a wholly owned subsidiary, Valiente Resources. The transaction was also approved by shareholders on Oct. 29, it added. The company also said closing of the arrangement is set to occur effective as of 12:01 a.m. Vancouver time on Nov. 12. Under the arrangement, NGEx shareholders will receive one new NGEx share and one-fifth of a Valiente share for each NGEx share held, with no change to their existing ownership in NGEx, the company said. Following completion, shareholders will own all outstanding shares of Valiente, it added. Shares of NGEx Minerals closed up 2.9% at CA$20.85 on the Toronto Stock Exchange.