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AUXICO ANNOUNCES CORPORATE UPDATE - SALE OF MEXICAN SUBSIDIARY AND APRIL 17, 2025 TECHNICAL PRESENTATION REVIEW
Auxico Resources Canada Inc. (CSE: AUAG) ("Auxico" or the "Company") announces the completion of the sale of its wholly owned Mexican subsidiary, Auxico Resources S.A. de C.V., for total proceeds of USD $200,000. The transaction follows the option agreement previously announced on April 10, 2025, and was completed through the transfer of all issued and outstanding shares to entities controlled by Concordia Silver Company S.A. de C.V.
About this update from Auxico Resources Canada, Inc.
[{"type":"text","content":"MONTREAL, Aug. 13, 2025 /CNW/ - Auxico Resources Canada Inc. (CSE: AUAG) ("Auxico" or the "Company") announces the completion of the sale of its wholly owned Mexican subsidiary, Auxico Resources S.A. de C.V., for total proceeds of USD $200,000. The transaction follows the option agreement previously announced on April 10, 2025, and was completed through the transfer of all issued and outstanding shares to entities controlled by Concordia Silver Company S.A. de C.V.","length":494,"tagName":"p"},{"type":"text","content":"The Company also announces that it is retracting the technical and scientific information contained in its April 17, 2025 Management Update Call presentation. This information was not prepared or approved by a Qualified Person as required under Regulation 43-101 respecting Standards of Disclosure for Mineral Projects ("Regulation 43-101") and included concentrate grades, production rates, and cost estimates that should not have been disclosed.","length":457,"tagName":"p"},{"type":"text","content":"Auxico did not intend to provide any information of a technical nature that acted as a proxy for the rare earth metals contained in any deposits on the projects currently being operated by the Company, and Auxico further confirms that it has no mineral resources or mineral reserves calculated with respect to its exploration projects. As such, this information should not be relied upon when making an investment decision.","length":423,"tagName":"p"},{"type":"text","content":"To support the review process, the Company has mandated Eugene Puritch, P.Eng., CET, President and Principal Mining Engineer at P&E Mining Consultants Inc., a Qualified Person as defined by Regulation 43-101, to review the presentation.","length":240,"tagName":"p"},{"type":"text","content":"The Company confirms that all future technical disclosures will comply with Canadian securities regulations.","length":108,"tagName":"p"},{"type":"text","content":"About Auxico Resources Canada Inc. ","length":34,"tagName":"p"},{"type":"text","content":"Auxico Resources Canada Inc. is a Canadian company that was founded in 2014 and is based in Montreal, trading on the Canadian Stock Exchange (CSE) under the symbol AUAG. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Boli...