TEYNF - Southern Arc Minerals: Returning Capital To Shareholders In Excess Of Current Market Cap
On August 4, 2020, Vancouver-based Southern Arc Minerals Inc. [SA.V] ([[SOACF]] - Pink sheets) announced that it would be distributing shares in 3 publicly traded mining companies that it owns (worth approximately Cdn. $21 million as of the time of writing this article), by way of a return of capital to shareholders, pursuant to a court-supervised Plan of Arrangement under the Business Corporations Act (British Columbia), and subject to shareholder and regulatory approvals. Southern Arc is incorporated under the laws of British Columbia, Canada.
As set out in the August 4th press release, the distribution