Viking Gold Exploration Inc. (TSXV:VGC) agreed to spin off New Blender Boyz on May 19, 2015. Viking will distribute shares on the basis of 1 share of New Blender Boyz for every 4 shares of Viking that are held. New Blender Boyz will complete a private placement of CAD 1.2 million from the sale of 6 million units at CAD 0.20 each.

New Blender Boyz will loan to Viking CAD 0.1 million on terms to be negotiated to offset some of the costs of this transaction. Viking will consider transferring its listing to the Canadian Securities Exchange. Viking will continue to be a publicly traded company that will hold all of its existing properties and liabilities, and New Blender Boyz will be a separate public company.

The transaction is subject to regulatory, court and shareholder approvals. The transaction is scheduled to close on or before August 15, 2015.