Auramex Confirms Consolidation
VANCOUVER, BC, June 29, 2020 /CNW/ - Auramex Resource Corp. ("AUX") (TSX.V: AUX) announces that it has received approval from the TSX Venture Exchange to consolidate ("Consolidation") all of its outstanding common shares ("Common Share") on the basis of five (5) pre-Consolidation Common Shares for one (1) post-Consolidation Common Share as announced on June 8, 2020.
AUX's common shares will commence trading on a consolidated basis at the market opening on June 30, 2020 (the "Effective Date"). The new CUSIP for AUX's consolidated Common Shares is 051527307.
AUX currently has 58,068,899 Common Shares issued and outstanding. As at the Effective Date, AUX will have approximately 11,613,780 Common Shares issued and outstanding. Any fractional interest in Common Shares resulting from the Consolidation will be rounded down to the nearest whole common share. Registered shareholders will receive a letter of transmittal from Computershare Investor Services, AUX's transfer agent, with information on how to replace their old share certificates with the new share certificates. Brokerage firms will handle the replacement of share certificates on behalf of their shareholders accounts.
AUX is exploring the past-producing Georgia River high-grade gold mine located 16 kilometres south of Stewart, BC in the prolific Golden Triangle. Georgia River was explored from the 1970s by several companies with the intent of restarting the mine, but this historic work only focused on the area hosting the existing mine workings. Work by AUX over the past few field seasons has generated compelling evidence in support of a large intrusion-related gold target adjacent to the area of previous work. Field crews have mobilized, and contractors are being selected to facilitate the 2020 field program which will involve drill testing the newly defined high-grade gold target.
On behalf of the Board of Directors:
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
For further information: +1 604 914 2142, email@example.com, www.auramex.com