VANCOUVER, BC, July 12, 2021 /CNW/ - AUX Resources
Corporation (TSXV: AUX) (OTC: AUXRF) ("AUX") is
pleased to announce that further to its press release of
May 6, 2021, at AUX's annual general
and special meeting held on July 8,
2021, the shareholders overwhelmingly approved the proposed
amalgamation pursuant to which a wholly-owned subsidiary of Scottie
Resources Corp. ("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 "Transaction").
AUX has received approval from the TSX Venture Exchange (the
"TSXV") to proceed with closing of the Transaction. The AUX
shares are expected to be de-listed from the TSXV following the
close of the markets on July 14,
2021. AUX and Scottie anticipate that the Transaction will
be completed on July 16, 2021 (the
"Closing Date"). AUX or its successor will also apply
to cease to be a reporting issuer under applicable securities laws
as soon as reasonably practicable following the Closing Date.
About AUX Resources Corporation
AUX holds more than 27,000 hectares of strategic claims in the
Stewart Mining Camp in the Golden Triangle of British Columbia, which is among the world's
most prolific mineralized districts, including the high-grade
Georgia Project and the past-producing Georgia River Mine. The
Georgia River Mine, which last operated in 1939 with a head grade
of 23 g/t gold, contains 1.2 kilometres of underground access on
three levels.
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, including,
but not limited to, actual timing of delisting and closing of the
proposed Transaction. Although AUX believe 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, shareholder 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.
SOURCE AUX Resources Corporation