Spartan Delta Corp. (TSX:SDE) agreed to Spin-Off Logan Assets on March 28, 2023. As per the terms, Spartan Shareholders will receive CAD 9.5 and 1 common share of Logan for each share they held in the company.

In addition, Spartan intends to pay an additional special dividend of $0.10 per Spartan Share to shareholders of record on July 14, 2023, payable on July 17, 2023. Spartan Board has unanimously determined that the Transaction is in the best interests of Spartan Shareholders. Effective July 6, 2023, Ashley Hohm, Vice President, Finance and Controller, Brendan Paton, Vice President, Engineering, and Craig Martin, Vice President, Operations, have resigned as officers of Spartan and were appointed as officers of Logan.

. As of July 14, 2023, Logan Shares have been conditionally approved for listing by the TSX Venture Exchange. Transaction is expected to close on June 30, 2023.

National Bank Financial, Inc. acted as a financial advisor and provided fairness opinion, Stikeman Elliott LLP acted as a legal advisor, and Scotia Capital Inc. acted as co-financial advisors to Spartan Delta Corp. Kingsdale Advisors acted as information agent to Spartan Delta Corp.