Feb 26 (Reuters) - Almadex Minerals Ltd:
* NEWCREST TO ACQUIRE INDIRECT 19.9% INTEREST IN EL COBRE THROUGH INVESTMENT OF CAD$19 MILLION; ALMADEX TO SPIN-OUT MINERAL EXPLORATION AND ROYALTY ASSETS
* SAYS NEWCREST AGREED TO ACQUIRE ABOUT 14 MILLION SHARES OF CO BY WAY OF NON-BROKERED PRIVATE PLACEMENT AT $1.36 PER SHARE
* SAYS BOARD UNANIMOUSLY APPROVED A STRATEGIC REORGANIZATION OF ITS BUSINESS
* SAYS EARLY STAGE EXPLORATION PROJECTS, ROYALTY INTERESTS & SOME OTHER NON-CORE ASSETS TO BE TRANSFERRED TO A NEWLY INCORPORATED CO
* SAYS CO’S SHAREHOLDERS WILL RECEIVE SHARES IN SPINCO IN PROPORTION TO THEIR SHAREHOLDINGS IN CO
* SAYS EL COBRE GOLD/COPPER PORPHYRY PROJECT WILL REMAIN IN ALMADEX
* SAYS SPINCO TO BE MANAGED BY CO’S CURRENT TEAM OF OFFICERS, ITS BOARD TO INITIALLY BE MADE OF SAME INDIVIDUALS AS CO’S BOARD Source text for Eikon: Further company coverage: