St. Augustine Announces Placement BY Queensberry Singapore
ST. AUGUSTINE ANNOUNCES PLACEMENT BY QUEENSBERRY
Singapore – 6th June 2023 – St. Augustine Gold and Copper Limited (TSX:SAU) (“St. Augustine” or
the “Company”) is pleased to announce that it has entered into an agreement with its major shareholder
Queensberry Mining and Development Corp. (“ Queensberry”) whereby the latter, through a private
placement, subscribed to 91,778,683 common shares of the Company (the “ Shares”) at a price of
CAD$0.041248594 per share. Following completion of the placement, Queensberry will hold
500,457,239 Common Shares, representing approximately 49.48% of the issued and outstanding
Common Shares.
Closing of the placement is expected to occur on or about 5th June 2023 and the same is subject to the
approval of the Toronto Stock Exchange.
The placement is a “related party transaction” for the purposes of Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying
on an exemption from the minority approval and formal valuation requirements of MI 61-101 due to the
fact that the value of the transaction does not represent greater than 25% of the market capitalization
of the Company.
The Company has not filed a material change report 21 days prior to the closing of the placement as no
agreement to that effect was in place at that time.
About St. Augustine
St. Augustine (SAU.T) is a TSX-listed mining company focused on the development of the King-king
Copper-Gold Project. The Project is one of the largest undeveloped copper-gold deposits in the world
and is listed as a top three-priority mining project by the Philippine government.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This announcement includes certain “forward-looking statements” within the meaning of Canadian
securities legislation. All statements, other than statements of historical fact included herein are forward
looking statements. Forward-looking statements involve various risks and uncertainties and are based
on certain factors and assumptions. While we consider these assumptions to be reasonable based on
currently available information, they may prove to be incorrect. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ materially from
those anticipated in such statements. Forward-looking information is also subject to certain factors,
including risks and uncertainties, that could cause actual results to differ materially from the Company’s
current expectations, including changes in market conditions, governmental or regulatory
developments and general economic conditions. Other risks and uncertainties related to the Company
are disclosed under the heading “Risk Factors” in the Company’s Annual Information Form dated March
30, 2023 and filed with Canadian securities regulatory authorities on the SEDAR website at
www.sedar.com. Forward-looking information contained in this announcement is based on our current
estimates, expectations and projections, which we believe are reasonable as of the current date. You
should not place undue importance on forward-looking information and should nor rely on this
information as of any other date. While we may elect to, we are under no obligation and do not
undertake to update this information at any particular time except as required by applicable securities
law.
For more information:
Lenna Mae Leopoldo
Investor and Public Relations Contact
ST. AUGUSTINE CORPORATE
HEADQUARTERS
T: +6382 225 0884 No.21, Greenwood Lane, E:
[email protected] Singapore, 286949