Aurbis Resources (CSE:AURR) has signed an arrangement agreement with its subsidiary Universal Nickel to advance the proposed spinout of its Ducros Nickel Project in Québec, Canada.
Under the agreement dated 12 November, Aurbis shareholders will receive one new Aurbis share for each existing share held, along with a pro-rata distribution of Universal Nickel shares currently owned by Aurbis.
Based on approximately 22.46 million Aurbis shares and 4.4 million outstanding Universal Nickel shares, shareholders are expected to receive around 0.196 Universal Nickel shares for every Aurbis share held.
Aurbis intends to distribute all its Universal Nickel shares to existing shareholders and will retain no ownership interest in the subsidiary following completion.
The transaction will not change shareholders’ proportionate ownership of Aurbis.
Separate exploration companies
As previously reported by Mining.com.au, Aurbis expects Universal Nickel to seek a public listing in late 2026 or early 2027.
Following the proposed spinout, Universal Nickel will operate as a standalone exploration company focused on the Ducros Nickel Project.
Meanwhile, Aurbis will concentrate on advancing its Ecru Gold Project in Nevada, US.
The proposed transaction is intended to separate the company’s nickel and gold exploration assets into two independently focused businesses.
Ducros Nickel Project
Located approximately 80km northeast of Val-d’Or, Québec, the Ducros Project comprises 44 contiguous mining claims within the Abitibi greenstone belt.
According to Aurbis, the property hosts nickel-copper-platinum group element mineralisation associated with the ultramafic Fortin Sill.
Ducros was Aurbis’ primary exploration focus before the company acquired its Nevada gold interests.
Aurbis Resources is a gold explorer committed to systematic, data-driven discovery on ground with genuine geological merit.
Write to Jackson Chen at Mining.com.au
Images: Aurbis Resources
