Kootenay Silver Inc. (TSXV:KTN) announced the spin off of 80% stake in Kootenay Resources Inc. on August 10, 2021. Under the terms, shareholders of Kootenay Silver will receive one share of Kootenay Silver and 0.04 shares of Kootenay Resources. On August 12, 2021, an agreement was signed. It is intended that Kootenay Resources will be managed by James McDonald, as the President and Chief Executive Officer and Rajwant Kang, as the Chief Financial Officer. Kootenay Resources' board of directors will consist of James McDonald, Rajwant Kang and Kenneth Berry. Transaction is subject to TSXV, shareholders, regulatory approval and Supreme Court approval. As of August 10, 2021, TSXV approved the transaction. As of August 20, 2021, Board of Directors of Kootenay Silver unanimously approved the transaction. As of September 15, 2021, shareholders of Kootenay Silver approved the Spin-off. The Arrangement is expected to close on or about September 30, 2021. Spin-off will be effective on October 29, 2021. Michael Varabioff of Maxis Law Corporation acted as the legal advisor to Kootenay Silver Inc and Kootenay Resources. Kootenay Silver Inc. completed the Spin-Off of of 80% stake in Kootenay Resources Inc. on October 29, 2021. Shareholders holding stake on October 28, 2021, will receive 0.04 share in Kootenay Resources.