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Aurum Lake Mining Announces Final Exchange Bulletin and Commencement of Trading
TORONTO, Jan. 11, 2024 /CNW/ - Aurum Lake Mining Corporation ("Aurum" or the "Company") is pleased to announce that effective January 10, 2024, it has completed
About this update from Aurum Lake Mining Corporation
[{"type":"text","content":"TORONTO, Jan. 11, 2024 /CNW/ - Aurum Lake Mining Corporation (\"Aurum\" or the \"Company\") is pleased to announce that effective January 10, 2024, it has completed its previously announced qualifying transaction (the \"Qualifying Transaction\") with respect to its option to acquire the Homathko property (the \"Homathko Property\") in British Columbia. The TSX Venture Exchange (the \"TSXV\") has published its final exchange bulletin in connection with the Qualifying Transaction (the \"Exchange Bulletin\"). For additional information regarding the Qualifying Transaction, see the Company's news releases dated December 21, 2022, November 8, 2023, December 4, 2023, December 6, 2023, December 21, 2023 and the filing statement of the Company dated December 21, 2023 (the \"Filing Statement\"), a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca. Trading in the Company's common shares (\"Common Shares\") on the TSXV is expected to resume at market open on January 12, 2024. As of the date hereof, the Company has issued and outstanding, a total of: (i) 21,740,000 Common Shares; (ii) 1,650,000 stock options exercisable to purchase Common Shares; (iii) 247,500 Finder's Warrants (as defined herein) exercisable to purchase Common Shares; and (iv) 280,000 agent's options exercisable to purchase Common Shares granted to the agent in the Company's initial public offering. Certain of the Common Shares are subject to escrow restrictions including: (i) 13,000,000 Common Shares subject to release under the CPC Escrow Agreement (as such term is defined in the Filing Statement), with a first release of 25% as of the date of the Exchange Bulletin. Concurrent Financing On December 6, 2023, in connection with the Qualifying Transaction, Aurum completed a non-brokered private placement, raising gross proceeds in the amount of $2,120,000 (the \"Concurrent Financing\") through the issuance of 5,000,000 Common Shares and 240,000 flow-through shares (\"FT Shares\") at a price of $0.40 per Common Share and $0.50 per FT Share. Finder's warrants to purchase Common Shares (\"Finder's Warrants\") were granted to eligible arm's length finders in the Concurrent Financing. About Aurum Lake Mining Corpora...