Copper

Azarga Metals Corp. ("Azarga Metals" or the "Company") (TSXV:AZR) announces that Trevor Steel has resigned as a director, effective immediately. The Board wishes to thank Mr. Steel for his many valuable contributions to the Company during his tenure as a director and wishes him well in the future

Azarga Metals Corp.

"Gordon Tainton"

Gordon Tainton
President and CEO

For further information please contact: Doris Meyer, at +1 604 536-2711 ext. 3, visit www.azargametals.com. The address of the head office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia, Canada.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Azarga Metals Corp.



View source version on accesswire.com:
https://www.accesswire.com/685445/Azarga-Metals-Management-Change

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Azarga Metals

Azarga Metals

Overview

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Baker Steel Executes Definitive Agreement to Convert Loan

Baker Steel Executes Definitive Agreement to Convert Loan

Azarga Metals Corp. ("Azarga Metals" or the "Company") (TSXV:AZR) is pleased to announce that it has executed a definitive agreement (the "Agreement") to supersede the binding letter of intent with Baker Steel Resources Trust Limited ("BSRT") announced on April 19, 2022. BSRT has agreed, subject to receipt of all required regulatory approvals, to convert the US$3.5 million loan between Azarga Metals and BSRT at a fixed Canadian dollar equivalent value of C$4.7 million, with a conversion price of C$0.10 per share for a total issue of 46,925,500 common shares of the Company (the "Shares

Pursuant to the Agreement, Azarga Metals has, amongst other things, granted BSRT the option to acquire the Unkur project (the "Unkur Option") until December 31, 2023, after which the Unkur Option will automatically expire. Closing of the Agreement is subject to receipt of regulatory approval and standard closing conditions.

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Azarga Metals Grants Stock Options and Director Resignation

Azarga Metals Grants Stock Options and Director Resignation

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(In United States dollars, except where noted otherwise)

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6 878742BE4 / US878742BE47
878742BG9 / US878742BG94
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