Scottie will amalgamate with AUX and all of the issued and outstanding common shares of AUX following the amalgamation will immediately be exchanged for common shares of Scottie on a one-for-one basis.
AUX Resources Corporation (TSXV: AUX) (OTC: AUXRF) (“AUX“) is pleased to announce that further to its press release of May 6, 2021, at AUX’s annual general and special meeting held on July 8, 2021, the shareholders overwhelmingly approved the proposed amalgamation pursuant to which a wholly-owned subsidiary of Scottie Resources Corp. (“Scottie“) will amalgamate with AUX and all of the issued and outstanding common shares of AUX following the amalgamation will immediately be exchanged for common shares of Scottie on a one-for-one basis (the “Transaction“).
AUX has received approval from the TSX Venture Exchange (the “TSXV“) to proceed with closing of the Transaction. The AUX shares are expected to be de-listed from the TSXV following the close of the markets on July 14, 2021. AUX and Scottie anticipate that the Transaction will be completed on July 16, 2021 (the “Closing Date“). AUX or its successor will also apply to cease to be a reporting issuer under applicable securities laws as soon as reasonably practicable following the Closing Date.
About AUX Resources Corporation
AUX holds more than 27,000 hectares of strategic claims in the Stewart Mining Camp in the Golden Triangle of British Columbia, which is among the world’s most prolific mineralized districts, including the high-grade Georgia Project and the past-producing Georgia River Mine. The Georgia River Mine, which last operated in 1939 with a head grade of 23 g/t gold, contains 1.2 kilometres of underground access on three levels.
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. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking, including, but not limited to, actual timing of delisting and closing of the proposed Transaction. Although AUX believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory, shareholder and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.