The board of Aurwest Resources Corporation (CNSX:AWR) agreed to spin-off Stellar Stars mining property on August 2, 2022. Under the terms, Aurwest shareholders as at the applicable Share Distribution Record Date will receive 0.3 shares of a Stellar Stars and 0.0051 shares of five (5) newly formed separate companies for every Aurwest common share held. There will be only one record date, being September 23, 2022.

Stellar Stars upon completion will be a separate listed company. The transaction is approved by the board of Aurwest Resources and remains subject to shareholders approval as well as approval of the British Columbia Supreme Court. Aurwest Resources announce that it has received the requisite shareholder approval at the annual general and special meeting of shareholders of the Company which was held on August 29, 2022, and received the Final Order from the British Columbia Supreme Court on September 8, 2022.

The record date for the spin out of the Stellar Stars SpinCo Shares will only be set once the Stellar Stars SpinCo Financing has been completed and conditional listing approval has been obtained for common shares of Stellar Stars. As of September 21, 2022, Aurwest Resources Corporation announced that it has received approval for the transaction. Completion of the transaction is subject to subject to the Stellar Stars Financing and is expected to close on or about September 8, 2022.