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Quebec court approves HPQ's proposed spinoff of gold assets

HPQ-Silicon Resources Inc. secured final approval from the Superior Court of Quebec over its proposed spinoff of gold assets, which include the Beauce Gold Field project, to subsidiary Beauce Gold Fields Inc.

HPQ and Beauce Gold will now focus on closing a private placement of at least C$550,000, a requirement that the new junior gold company must fulfill to finalize its listing on the TSX Venture Exchange.

The Beauce project in southern Quebec comprises a block of 152 claims that hosts a six-kilometer long unconsolidated gold-bearing sedimentary unit. Numerous historical gold mines were also active in the site.