Bard Ventures Ltd. and Beatrix Ventures Inc.'s plan of arrangement, further to the news releases of Bard in Stockwatch dated Oct. 9, 2009, and March 9, 2010, which resulted in the Opikeigen gold property and $250,000 cash being transferred from Bard to Beatrix, closed on March 15, 2010, the effective date of the arrangement. Beatrix begins trading today, March 15, 2010, on the CNSX under the symbol BXV.
Under the plan of arrangement, persons who were registered as shareholders of Bard on March 15, 2010, will be entitled to receive one common share of Beatrix for every 10 Bard common shares held by them. This provides the Bard shareholders with continued exposure to each company's potential upside, additional growth opportunities and anticipated higher capital markets valuations for the two distinct asset bases. The Beatrix share certificates are expected to be mailed to Bard shareholders on or about March 19, 2010.
Bard's Opikeigen gold property will now be held by Beatrix. This arrangement will allow Bard to focus its resources on the Lone Pine molybdenum property while Beatrix can aggressively pursue the advancement of its base metal Opikeigen gold property.
