AUX Shareholders Vote In Favour of Amalgamation with Scottie and Announce Effective Date of Delisting and Closing
AUX Shareholders Vote In Favour of
Amalgamation with Scottie and Announce
Effective Date of Delisting and Closing
VANCOUVER, BC
,
July 12, 2021
/CNW/ -
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.
SOURCE
AUX Resources Corporation
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For further information:
AUX Resources Corporation, Ian Slater, Chief Executive Officer, +1 604
638 2545, [email protected]; Mars Investor Relations, +1 604 715 6845,
CO: AUX Resources Corporation
CNW 08:00e 12-JUL-21