Shareholders of Vancouver-based NGEx will receive 0.2 shares of the new company for each NGEx share held, according to a statement issued late Thursday. Since earning a 100% interest in the project in 2022, NGEx has advanced Valle Ancho through mapping, geophysics, geochemistry and drilling. NGEx will provide the new company with enough funding to support at least 12 months of exploration and corporate activities following out spinout. New projectsOver time, Spinco will look to add new projects to its portfolio in addition to advancing Valle Ancho, NGEx said. NGEx shares rose 2.2% to C$27.51 in Toronto Friday morning, valuing the company at about C$6 billion ($4.3 billion).