Lorraine Copper originated in a spin out of the Lorraine-Jajay assets from Eastfield Resources Ltd. and Lysander Minerals Ltd. Lorraine Copper was first listed for trading on the TSX-Venture Exchange on April 18, 2008.
As a result of the spin out arrangement, holders of common shares of Eastfield ended up holding common shares in both the Eastfield and Lorraine Copper and holders of common shares of Lysander will end up holding common shares in both Lysander and Lorraine Copper.
The purpose of the Arrangement is to simplify the ownership structure of Lorraine-Jajay by consolidating the 50% ownership of Eastfield and 50% ownership of Lysander into a separate public company. The new identity created for Lorraine Copper will facilitate future financing and maximize shareholder value.