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Uragold changes name to HPQ Silicon Resources ahead of gold asset spin-out

Uragold BayResources Inc. said July 11 that it has changed its name to HPQSilicon Resources Inc. in preparation for the planned spin-out of its goldprojects into a separate publicly traded company.

The company announced the spin-out in March, saying it willissue dividends toits shareholders in the form of shares in the new company holding Uragold'sgold assets.

HPQ Silicon Resources will retain the assets and operationsrelating to the high-purity quartz and solar-grade silicon metal process, whilethe spin-off company will hold the Beauce gold project in Quebec.

According to HPQ Silicon, the spin-out will further unlockvalue for shareholders as both companies will independently focus on advancingtheir respective assets.

Further details on the spin-out company are yet to beannounced.

HPQ Silicon Resources said it will also change its TSXVenture Exchange ticker to HPQ, to be finalized by the bourse.