Lundin Gold (LUG.TO) after trade Thursday said it completed the distribution of 50.5 million shares of LunR Royalties (LUNR.V) to its shareholders through a dividend in kind.
The distribution was made on Thursday to shareholders of record as of June 4. The shares were acquired by Lundin Gold on May 28 as part of a silver stream agreement with LunR Royalties. Under a separate agreement signed in April, Lundin Gold committed to distributing these shares directly to its shareholders, the company said.
Before the distribution, Lundin Gold owned about 41.8% of LunR's outstanding shares. Through the transaction, the company distributed its entire LunR stake to shareholders and no longer holds any shares in LunR, according to the statement.
"As a result, Lundin Gold is no longer subject to early warning reporting requirements in respect of LunR. Lundin Gold has no current intention to acquire additional securities of LunR," the company added.