08:54 AM EDT, 10/24/2025 (MT Newswires) -- Latin Metals ( LMSQF ) said Friday that it plans to spin out certain copper exploration projects in Peru into a newly incorporated subsidiary called Latin Explore.

Upon completion of the spin-out, Latin Explore will initially be owned by Latin Metals ( LMSQF ), its shareholders, and investors participating in a concurrent private placement to fund the launch of the company.

Latin Metals ( LMSQF ) plans to apply to list the common shares of Latin Explore on the TSX Venture Exchange.

Latin Metals ( LMSQF ) said it will continue to advance early-stage assets through partner-funded exploration, while Latin Explore will focus on advancing drill-ready projects in Peru including the Para copper project.

"Latin Metals ( LMSQF ) is continually exposed to quality acquisition opportunities that are simply not a good fit for a company operating as a prospect generator," Latin Metals ( LMSQF ) president and chief executive officer Keith Henderson said. "The creation of Latin Explore allows Latin Metals' ( LMSQF ) shareholders to participate in such opportunities without negatively impacting the share structure of Latin Metals ( LMSQF )."

Latin Metals' ( LMSQF ) share price fell 3.9% to $0.25 on the TSXV Thursday.