Marvel Gold Limited (ASX: MVL) has provided an update regarding its shareholding in Evolution Energy Minerals Limited (Evolution). Following a spin-out transaction in November 2021, Marvel retained 50 million ordinary shares in Evolution, representing approximately 31% of Evolution's issued capital. These shares are subject to a 24-month escrow period ending on 16 November 2023. Marvel is currently exploring the possibility of transferring these shares to its shareholders through a pro rata in specie distribution, pending regulatory and shareholder approval. The company acknowledges that the distribution is subject to ASX approval and there is no guarantee it will occur before the escrow period expires.