CellCube Energy Storage Systems Inc. (CNSX:CUBE) agreed to spin-off 80.1% stake in Bisoni Mackay and Bisoni-Rio in Nevada on June 28, 2018. CellCube will transfer Bisoni Mackay and Bisoni-Rio into a newly formed subsidiary called Vanadium 23 Corp. Upon completion of the spin out arrangement, CellCube intends to issue one share of Vanadium 23 for every two shares of CellCube held by CellCube shareholders of record. Vanadium 23 will be a publicly listed independent vanadium exploration and production company with advanced projects in Nevada. CellCube will retain a 19.9% interest in Vanadium 23. The proposed spin-out transaction will be subject to CellCube's shareholder approval. CellCube has completed the incorporation of V23 Resource Corp. and appointed Mike Neylan Chairman of the company. As of October 11, 2018, the record date was fixed as November 30, 2018. As per announcement made on November 29, 2018, the record date of the transaction has been extended to January 4, 2019. As of January 2, 2019, the record date has been moved to February 5, 2019. As of January 4, 2019, CellCube confirms that the record date has not been extended and is January 4, 2019.