Company: GNTOF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001062993-25-008252
Chunk: 38

Company: GENTOR RESOURCES INC.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 38
---
, or (iv) fails to certify, under penalty of perjury, that such U. S. Holder has furnished its correct U. S. taxpayer identification number and that the IRS has not notified such U. S. Holder that it is subject to backup withholding tax. However, certain exempt persons generally are excluded from these information reporting and backup withholding rules. Backup withholding is not an additional tax. Any amounts withheld under the U. S. backup withholding tax rules will be allowed as a credit against a U. S. Holder's U. S. federal income tax liability, if any, or will be refunded, if such U. S. Holder furnishes required information to the IRS in a timely manner. U. S. Holders should consult with their own tax advisors regarding the information reporting and backup withholding rules.

-29-

General U. S. Tax Consequences Related to the Ownership and Disposition of Common Shares by Non-U. S. Holders

Distributions on Common Shares

The Company does not intend to pay any dividends on the Common Shares in the foreseeable future. In the event that the Company pays dividends on the Common Shares, a non-U. S. Holder that receives a distribution, including a constructive distribution, with respect to a Common Share will be required to treat such distribution as a dividend to the extent of the current or accumulated "earnings and profits" of the Company, as computed for U. S. federal income tax purposes. To the extent that a distribution exceeds the current and accumulated "earnings and profits" of the Company, such distribution will be treated (i) as a tax-free return of capital to the extent of a non-U. S. Holder's tax basis in the Common Shares and (ii) thereafter as gain from the sale or exchange of such shares. Any such distributions would also be subject to the discussions below regarding backup withholding and FATCA (as defined below).

Any amount treated as a dividend generally will be subject to withholding tax at a 30% gross rate, subject to any exemption or lower rate under an applicable treaty if the non-U. S. Holder provides the Company with a properly executed IRS Form W-8BEN or W-8BEN-E, unless the non-U. S. Holder instead supplies a properly executed IRS Form W-8ECI (or other applicable form) relating to income effectively connected with the conduct of a trade or business within the U. S. To the extent a distribution from the Company is treated as a dividend effectively connected with the conduct