Vancouver, British Columbia--(Newsfile Corp. - December 11, 2024) - Auric Minerals Corp. (CSE: AUMC) (the "Company") announces that it has completed the acquisition (the "Transaction") of Central Uranium Resources Corp. ("CURC"), a privately held arm's-length company established under the laws of the Province of British Columbia, and each of the shareholders of CURC. CURC holds the rights to acquire the Route 500 Property located in the province of Newfoundland and Labrador. The Route 500 Property is located approximately 70 km east-southeast of Churchill Falls, Newfoundland and Labrador, and consists of 441 claims totaling 11,025 hectares.
The Transaction was completed pursuant to the terms of a share exchange agreement (the "Exchange Agreement") entered into between the Company, CURC and each of the shareholders of CURC. Pursuant to the terms of the Exchange Agreement, the Company has issued an aggregate of 12,000,000 common shares (the "Consideration Shares") and 3,000,000 common share purchase warrants (the "Consideration Warrants") to the existing shareholders of CURC in consideration for all of the outstanding share capital of CURC. Each Consideration Warrant is exercisable at a price of $0.18 until December 11, 2027.
In accordance with applicable securities laws, the Company is required to file a Business Acquisition Report (the "BAR") following completion of the Transaction. The Consideration Shares and the Consideration Warrants are subject to restrictions on resale, and may not be transferred, until ten calendar days following the filing of the BAR.
The Company is at arm's length from CURC and each of its shareholders. The Transaction does not constitute a fundamental change for the Company and has not resulted in a change of control of the Company (within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange). No finder's fee are payable in connection with completion of the Transaction.
On Behalf of the Board of Directors
Dimitri Lakutin
Chief Executive Officer
(647) 243-7402
auricminerals@gmail.com
Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will support the viability of mining exploration, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Project, and the availability of and the ability to retain and attract qualified personnel. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, future prices of minerals, changes in the financial markets and in the demand for minerals, changes in laws, regulations and policies affecting the mineral exploration industry, as well as the risks and uncertainties which are more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's SEDAR+ profile. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The Company does not undertake any obligation to update such forward-looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233328
SOURCE: Auric Minerals Corp.
