June 19 (Reuters) - NGEx Resources Inc NGQ.TO :
* NGEX SECURITYHOLDERS APPROVE SPIN-OUT OF LOS HELADOS PROJECT AND EXPLORATION PROPERTIES
* COURT HEARING FOR FINAL ORDER TO APPROVE ARRANGEMENT IS SCHEDULED TO TAKE PLACE ON JUNE 24, 2019
* NGEX RESOURCES- AT SPECIAL MEETING, SPECIAL RESOLUTION APPROVING TRANSACTION WAS APPROVED BY 99.90% OF VOTES CAST AT MEETING
* NGEX RESOURCES- SHAREHOLDERS OF COMPANY ("NGEX SHAREHOLDERS") HAVE VOTED 99.96% IN FAVOUR TO APPROVE STOCK OPTION PLAN OF SPINCO.
* IT IS ANTICIPATED THAT ARRANGEMENT WILL BE COMPLETED BY MID-JULY, 2019
* WILL DISTRIBUTE 100% OF COMMON SHARES OF SPINCO IT RECEIVES UNDER ARRANGEMENT TO NGEX SHAREHOLDERS ON A PRO RATA BASIS
* OVER TIME IT IS EXPECTED THAT SPINCO MAY ADD NEW EXPLORATION STAGE PROJECTS TO ITS PORTFOLIO
* NGEX RESOURCES - ARRANGEMENT WILL INCLUDE TRANSFER OF LOS HELADOS PROJECT, & CERTAIN EXPLORATION PROPERTIES ALONG WITH $7.3 MILLION IN CASH TO SPINCO
* NGEX WILL DISTRIBUTE ALL SPINCO COMMON SHARES TO NGEX SHAREHOLDERS
* THERE WILL BE NO CHANGE IN SHAREHOLDERS' HOLDINGS IN NGEX AS A RESULT OF ARRANGEMENT
* NGEX RESOURCES - CO WILL DISTRIBUTE SPINCO SHARES SUCH THAT CO SHAREHOLDERS AS OF PARTICULAR DATE RECEIVE ONE SPINCO SHARE FOR EVERY TWO NGEX SHARES