The Board of TomaGold Corporation (TSXV:LOT) announced the spin-off of Monster Exploration on January 25, 2019. Under the terms of the transaction, shareholders of TomaGold would exchange their existing common shares of TomaGold for the same number of new common shares of TomaGold and common shares of Monster Exploration. As of June 25, 2019, TomaGold will spin-out all of its Monster Lake assets in the Province of Quebec into a new company called Monster Exploration Inc. In a related transaction, TomaGold intends to complete a financing into Monster Exploration for minimum gross proceeds of CAD 8 million, which will be used to fund the working capital Monster Exploration, exploration work and potential future acquisitions. In addition, Monster Exploration agreed to acquire Anik project from Kintavar Exploration and Diego Project from Antoine Fournier. Post the closing of the spin-off, the financing and the acquisitions TomaGold shareholders will hold approximately 63% stake, participants in the financing will own 22% and kintavar will own 14% stake in Monster Exploration. Pursuant to the Arrangement, TomaGold will receive 44.13 million Monster Shares which TomaGold will distribute a portion of to the TomaGold shareholders of record as of the distribution date for the Distribution. The number of Monster Shares to be distributed to TomaGold's shareholders under the Spin-Out has not yet been determined. The final management structure of Monster Exploration will include David Grondin as President and Chief Executive Officer, Alain Cayer as Vice President Exploration and Kiril Mugerman as Chairman of the Board. Post the transaction, Monster Exploration will have separate sources of funding and independent operations. The transaction is subject to the approval of the shareholders of TomaGold, receipt of a final court order from the Superior Court of Quebec and approval of the TSX Venture Exchange for the listing of Monster Exploration, execution of an arrangement agreement, receipt of requisite corporate, regulatory approvals. The Distribution Record Date is expected to be on or about June 17, 2019. The deal is expected to be completed in early 2020. As of June 25, 2019, TSX Venture Exchange approval is still pending with respect to the plan of arrangement to spin-out Monster Exploration Inc. TomaGold Corporation will set a new meeting date to obtain its shareholder approval in August 2019 and court approval in July 2019.