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Standard & Poor's will make the following changes in the S&P/TSX SmallCap and Global Mining Indices:
Shareholders of Western Copper Corporation (TSX:WRN) approved on October 3, 2011, the Plan of Arrangement whereby the company will spin out certain copper interests to shareholders. For every 2 shares of Western Copper held, shareholders will receive 1 share of a new company named Copper North Mining Corp. and 1 share of a new company named NorthIsle Copper and Gold Inc. Copper North and NorthIsle Copper will trade on TSX Venture Exchange for the first time (the ex-date of the spin-off) on October 24, 2011, under the ticker symbols "COL" and "NCX" respectively. The spun out shares of Copper North and NorthIsle Copper will be added at zero price to the S&P/TSX SmallCap and Equity SmallCap, the S&P/TSX Global Mining and Global Base Metals and the S&P/TSX Equal Weight Global Base Metals Indices after the close of trading on Friday, October 21, 2011.
Effective after the close of Monday, October 24, 2011, the shares of Copper North and NorthIsle Copper will be removed from the same five indices.
The shares of Century Mining Corporation (TSXVN:CMM) will be removed from the S&P/TSX Venture Composite and Venture Select Indices after the close of Friday, October 21, 2011. Shareholders of Century Mining will receive 0.4 shares of White Tiger Gold Ltd. (TSX:WTG) for each share held. Century Mining will be delisted from the TSX Venture Exchange after close of trading on Friday, October 21, 2011.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
