The Trust will sell all or substantially all its assets at the end of 2014, being oil and gas assets held indirectly by it, and distribute the remaining cash in at least two distributions in 2015 after settling liabilities.
An Alberta unit trust trading on the TSXV which was established in June 2012 as a cross border energy trust (holding U.S. oil and gas assets through U.S. subsidiaries) and which has incurred losses.
For a summary of the 2009 transactions challenged by CRA, see under Other – Loss Utilizations.
The Corporation (an Alberta corporation listed on the NEX Board of the TSXV) sold substantially all its assets to Shoppers Drug Mart Inc. on May 22, 2012 for gross proceeds of $73.5M, and has or will distribute the net proceeds in three tranches: a stated capital distribution; a distribution that will only partly be a stated capital distribution; and a distribution pursuant to liquidation proceedings.
Intrepid Mines, an Australian company, is proposing to distribute approximately 87% of its assets in cash as a capital distribution.
The Company is listed on the ASX and the TSX and which received US$80 million in settlement of all disputes surrounding ownership of the Tujuh Bukit copper/gold project in Indonesia.
TSX-listed Globex is proposing a spin-off to its shareholders by way of butterfly reorganization of CIM, a newly-incorporated subsidiary that is proposed to be listed on the TSX-V and that will hold various mining and exploration properties in the Chibougamu mining camp.
The butterfly reorganization is implemented through the following steps occurring under a Quebec plan of arrangement:
