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Scottie and AUX Sign Amalgamation Agreement to Consolidate the Stewart Mining Camp in the Golden Triangle
Scottie and AUX Sign Amalgamation Agreement to Consolidate the Stewart Mining Camp in the...
About this update from Golden Cross Resources Inc.
[{"type":"text","content":"\n \n \n \n Scottie and AUX Sign Amalgamation Agreement to Consolidate the Stewart Mining Camp in the Golden Triangle\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n May 6, 2021\n \n /CNW/ -\n \n Scottie Resources Corp.\n \n (TSXV:\n \n \n SCOT) (\"\n \n Scottie\n \n \") and\n \n AUX Resources Corporation\n \n (TSXV: AUX) (OTC: AUXRF) (\"\n \n AUX\n \n \") are pleased to announce that, further to their proposed transaction announced on\n \n April 12, 2021\n \n , they have signed an amalgamation agreement dated\n \n May 4, 2021\n \n (the \"\n \n Agreement\n \n \") pursuant to which a wholly-owned subsidiary of Scottie will amalgamate with AUX and all of the issued and outstanding common shares of AUX following the amalgamation will immediately be exchanged for common shares of Scottie on a one-for-one basis (the \"\n \n Transaction\n \n \"). The Transaction will consolidate the contiguous gold-silver exploration assets of Scottie's Cambria Project and AUX's Silver Crown, Independence, American Creek, Lower Bear and Bear Pass Projects, all of which will benefit from operational and geological synergies.\n \n \n Upon completion of the Transaction, it is expected that the shareholders of AUX will hold approximately 31% of Scottie's issued and outstanding shares. The board of Scottie will remain the same.\n \n \n \n Anticipated Benefits of the Transaction\n \n \n \n \n \n District scale 522 km\n \n 2\n \n 100% owned in the heart of the Stewart Mining Camp adjacent to Pretium Resources and Ascot Resources Premier and Red Mountain deposits in the Golden Triangle (Figure 1).\n \n \n \n \n \n \n Consolidation of AUX's Silver Crown, Independence, American Creek, Lower Bear and Bear Pass Projects with Scottie's Cambria Project. The expanded Cambria Project will cover 27,465 contiguous hectares and includes five historical mines (Molly B,\n \n Bayview\n \n , Black Hills, Blue Grouse and Terminus).\n \n \n \n \n \n \n Three advanced Projects in the Stewart Mining Camp &#x...