05:06 PM EDT, 06/19/2024 (MT Newswires) -- Vizsla Silver ( VZLA ) on Wednesday said it received final court approvals for the spin out of its royalty portfolio to shareholder.

The company said the Supreme Court of British Columbia issued its final order approving the plan of arrangement with Vizsla Royalties.

The company said the spin out will see shareholders receive one third of a share in the royalty company and one third of of a warrant for each Vizla share held.

The arrangement it expected to close on June 24.

Vizla shares closed up $0.01 to $2.40 on the TSX Venture Exchange.