Business
Auric Minerals Corp. Completes Acquisition of English Lake Project, Otter Lake Project and Kan Project in Labrador's Central Mineral Belt, and Enters into Amending Agreements for Route 500, Portage and BUB Properties
Vancouver, British Columbia--(Newsfile Corp. - December 31, 2025) - Auric Minerals Corp. (CSE: AUMC) ("Auric" or the "Company") is pleased to announce that, further to its news release dated September 4, 2025, it has completed the acquisition (the "Acquisition") of a 100% beneficial interest in certain mineral properties covering over 26,500 hectares across multiple mineralized corridors in the English Lake Project, Otter Lake Project and Kan Project in the Central Mineral Belt of Labrador,...
About this update from Auric Minerals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 31, 2025) - Auric Minerals Corp. (CSE: AUMC) ("Auric" or the "Company") is pleased to announce that, further to its news release dated September 4, 2025, it has completed the acquisition (the "Acquisition") of a 100% beneficial interest in certain mineral properties covering over 26,500 hectares across multiple mineralized corridors in the English Lake Project, Otter Lake Project and Kan Project in the Central Mineral Belt of Labrador, Canada (collectively, the "Properties") pursuant to the terms of a property sale agreement dated September 4, 2025 (the "PSA") as amended by an amending agreement dated December 29, 2025 (the "Amending Agreement") between the Company and Bellview Investments Pte. Ltd. (the "Vendor").","length":850,"tagName":"p"},{"type":"text","content":"Under the terms of the PSA and Amending Agreement, the Vendor transferred to the Company a 100% beneficial interest in the Properties, free and clear of all encumbrances. As consideration, the Company:","length":201,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"issued an aggregate of 22,000,000 common shares (the "Consideration Shares") at a deemed issuance price of $0.315 per Consideration Share to various parties as directed by the Vendor (the "Recipients");","length":222,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"issued an aggregate of 8,000,000 warrants (the "Consideration Warrants") to the Recipients, with each Consideration Warrant exercisable to acquire one common share of the Company at an exercise price of $0.315 for a period of 36 months from the date of issuance;","length":272,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"a reduced cash payment of $32,000 per the Amending Agreement;","length":61,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"the assumption of all rights and obligations of the Vendor in respect of 2.5% net smelter returns royalties for the Properties.","length":127,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":682,"olType":false},{"type":"text","content":"The Consideration Shares and Consideration Warrants are subject to an Exchange Hold Period (as such term is defined in th...