The News Releases as filed on SEDAR were disseminated on
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FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1. Name and Address of Company
AURCREST GOLD INC. (the “Company” or “AurCrest”)
Suite 3600
22 Adelaide Street West
Toronto, ON M5J 4E3
Item 2. Date of Material Change
The material changes took place on March 3, 2017.
Item 3. News Release
The News Releases as filed on SEDAR were disseminated on March 3,
2017 through Marketwired.
Item 4. Summary of Material Change
AurCrest announced that Chris Angeconeb, Executive Vice President and
Director, had accepted the role of President and Chief Executive Officer
of the Company. This role, effective immediately, represents a
culmination of the Company’s long -standing Management and Board
policy to ward growing a positive and progressive cultural relationship
between the mineral exploration and development industry and Aboriginal
communities and governments.
In addition, the Company announced that, further to its press release of
February 27, 2017, the Company ha d closed the first tranche of its
brokered private placement (the “ Offering”) with the sale of 1,000,000
working capital units (the “WC Units”) of the Company at a price of $0.05
per WC Unit for gross proceeds of $50,000. A cash commission of
$4,500 and 100,000 broker warrants were paid to IBK Capital Corp. with
respect to the closing of the first tranche of the Offering. The securities
issued are subject to a hold period expiring on July 4, 2017.
The Company will leave the remainder of the Offering of up to 4,000,000
WC Units open until March 30, 2017.
Item 5. Full Description of Material Change
Christopher Clayton James Angeconeb, a member o f the Lac Seul First
Nation in the Grand Council Treaty #3 area of Northwestern Ontario,
possesses a strong understanding of the interrelated issues facing many
First Nations, of the requirements of many of the agencies involved with
Aboriginal affairs, and of the practical implementation of the Crown’s duty
to consult and accommodate. Chris will now be setting the direction of the
Company, focusing on exploration and expansion of Company holdings
as an active participant to the socioeconomic development of our
neighbouring Aboriginal communities. Chris will also continue to serve as
President of Wiigwaasaatig Energy Inc., the renewable energy subsidiary
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of the Company tasked with partnering with local First Nations to develop
the infrastructure necessary to sustain mineral industry activities.
Outgoing President and CEO, Ian Brodie-Brown, will continue to be an
active participant on the Company’s Board, taking on the role of Director
of Business Development.
Each WC Unit consists of one (1) common share of the Company priced
at $0.05 per common share and one (1) common share purchase warrant
(each a “ WC Warrant ”), with each WC Warrant entitling the holder to
acquire one (1) common share until five (5) years from the closing of the
Offering at a price of $0.05.
Each broker w arrant entitles the holder to acquire a WC Unit for five (5)
years from Closing at a price of $0.05 per Broker Warrant.
Item 6. Reliance on Subsection 7.1(2) of National Instrument 51-102
Confidentiality is not requested.
Item 7. Omitted Information
No information has been omitted in respect of the material change.
Item 8. Executive Officer
Christopher Angeconeb
(807) 737-5353
email: [email protected]
Item 9. Date of Report
March 9, 2017
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