(via TheNewswire)
The Transaction, as previously announced in the Company’s news releases dated
Prior to closing of the Transaction, the Company changed its name to “Au Gold Corp.” and Target changed its name to “Ponderosa Exploration Ltd.” The new CUSIP number will be002226108and the new ISIN number will beCA0022261089.
The common shares of the Company (the “Shares”) are expected to begin trading as a Tier 2 mining issuer on the TSXV, under the stock symbol “AUGC” on
Qualifying Transaction
Pursuant toa definitive share exchange agreement dated
Pursuant to the closing of the Transaction, Target is now a wholly owned subsidiary of the Company.
As described in the Company’s filing statement dated
Share Purchase Agreements
Certain incoming Principals (as such term is defined in the polices of the TSXV) entered into share purchase agreements with the pre-Transaction Principals of the Company, pursuant to which, among other things, the former Principals sold and transferred to the purchasers, an aggregate of 2,400,000 outstanding Shares (the “Principal Shares”). Each of the purchasers executed a Form 5E –Agreement by Escrow Transferee to be Bound by Escrow Agreement, providing that the Principal Shares will remain subject to the terms of an escrow agreement originally dated
Concurrent Financing
In connection with the Transaction, the Company completed a "best efforts" non-brokered private placement of 10,000,000 flow-through common shares of the Company (the “FT Shares”) at a price of
In consideration for introducing certain subscribers to the Concurrent Financing, the Company paid cash finder’s fees of
Each of
Following completion of the Transaction and Concurrent Financing,
Directors and Management
Upon completion of the Transaction, the board of directors of the Company is now comprised of
Full details of the Transaction and other matters are set out in the Filing Statement, a copy of which can be found under the Company’s SEDAR profile atwww.sedar.com.
Change of Auditor
Upon completion of the Transaction,
The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
Contact Information
CEO & President
Website:augoldcorp.com
email:info@augoldcorp.com
Contact Person:
Contact Phone: +1-604-687-3520 ext. 250
The TSXV has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the contents of this press release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Transaction. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company's securities; the state of the natural resources sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Filing Statement for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within
This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities.
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Copyright (c) 2020 TheNewswire - All rights reserved., source