
On April 3, 2009, Hathor spun-out its Eskay Creek precious metals project by way of a Plan of Arrangement (see Hathor Information Circular dated August 20, 2008) to form the new company, MAX Minerals Ltd.("MAX"). Hathor shareholders of record at the close of business on April 3, 2009, received one common share of MAX for each ten common shares of Hathor held (
see Hathor news release March 12, 2009).
On the spin-out date MAX had 8,617,492 common shares issued and outstanding. In addition to the Eskay Creek properties, Hathor also transferred $1,550,000 of cash to MAX.