Azucar Closes Newcrest Top-up Subscription
NEWS RELEASE
April 12th, 2019
Trading Symbols:
TSX-V: AMZ; OTCQX: AXDDF
www.azucarminerals.com
AZUCAR CLOSES NEWCREST TOP-UP SUBSCRIPTION
VANCOUVER, B.C. Azucar Minerals Ltd. ("Azucar" or the "Company") (TSX-V: AMZ; OTCQX:
AXDDF) announces that Newcrest Canada Holdings Inc. (“Newcrest”) has exercised its top-up
rights pursuant to the May 18, 2018 Investor Rights Agreement with Azucar.
On the exercise of its top-up rights, Newcrest has acquired an additional 59,654 common
shares of Azucar at a price of $0. 3274 per share, for a total of $19,531 (the “ Subscription”),
thereby maintaining its ownership in the Company of 19.9%. The shares issued pursuant to the
Subscription are subject to a hold period expiring August 13th, 2019.
As Newcrest held (prior to the exercise of its top-up rights) 19.8% of the voting rights attached to
all of Azucar’s outstanding voting securities, the Subscription is considered to be a “related party
transaction” as defined under Multilate ral Instrument 61 -101 Protection of Minority Security
Holders in Special Transactions (“MI 61 -101”). The Subscription is exempt from the formal
valuation and minority shareholder approval requirements of MI 61 -101 as neither the fair
market value of the common shares issued to, nor the consideration paid by, Newcrest exceeds
25% of the Company’s market capitalization.
About Azucar
Azucar is an exploration company with a mandate to thoroughly explore the El Cobre project in
Veracruz, Mexico, a ~7,000 Ha prop erty which covers multiple gold -rich porphyry targets, as
demonstrated by recent drilling. Azucar is permitted and funded for an active drill campaign in
2019. Azucar holds a 100% interest in the El Cobre project, subject to net smelter returns
(“NSR”) roy alty interests, assuming production from the property exceeds 10,001 tonnes per
day of ore, totaling 2.25% which can be reduced to 2.0% though the payment of US$3.0 million.
On behalf of the Board of Directors,
“Morgan Poliquin”
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
Azucar Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United Sta tes. The
securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unle ss
registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Contact Information:
Azucar Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.azucarminerals.com/