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Auric Minerals Announces Letter of Intent with Central Uranium Resources
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Auric Minerals Corp. (CSE: AUMC) (the "Company") is pleased to announce that it has entered i
About this update from Auric Minerals Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Auric Minerals Corp. (CSE: AUMC) (the \"Company\") is pleased to announce that it has entered into a non-binding letter of intent, dated October 22, 2023, with Central Uranium Resources Corp. (\"CURC\"), an arms-length party, to review a potential acquisition of CURC. CURC holds the rights to acquire the Route 500 Property located in the Province of Newfoundland and Labrador (the \"Project\"). Pursuant to the terms of the Letter of Intent, it is contemplated that the Company would acquire all of the outstanding share Capital of CURC in consideration for the issuance of 12,000,000 common shares, and 4,500,000 common share purchase warrants (each, a \"Consideration Warrant\"), to the existing shareholders of CURC. Each Consideration Warrant will be exercisable at a price of $0.20 for a period of thirty-six months following issuance. Readers are cautioned that completion of the proposed acquisition of CURC remains subject to a number of conditions, including, but not limited to, completion of due diligence, negotiation of definitive documentation and the receipt of any required regulatory approvals. The acquisition cannot be completed until these conditions are satisfied, and there can be no assurance that the acquisition will be completed at all. The acquisition is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. The Company will provide further information regarding the potential acquisition of CURC as its due diligence process is completed. On Behalf of the Board of Directors \"Dimitri Lakutin\"Chief Executive Officer (647) [email protected] Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information (collectively, \"forward-looking statements\") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: \"believes\", \"expects\", \"anticipates\", \"intends\", \"estimates\", \"plans\", \"may\", \"should\", \"would\", \"will\", \"potential\", \"scheduled\" or variations of such words and phrases and similar expressions, which, by their nature, refe...