December 31, 2024 – Auric Resources Corp (TSX-V: RES) (the “Company”) is pleased to announce that it has entered into an amended property option agreement dated December 23, 2024 (the “Amended Property Option Agreement”) as between the Company and Jadeite Capital Corp. (“Jadeite”), pursuant to which the parties have agreed to amend the cash payment terms as follows:
| Deadline | Cash Payment | Consideration Unit Issuance |
|---|---|---|
| Closing Date (Complete) | – | 1,937,500 Consideration Units |
| Six Month Anniversary of Closing | – | – |
| First Anniversary of Closing | $300,000 | 1,937,500 Consideration Units |
| Second Anniversary of Closing | – | 1,937,500 Consideration Units |
| Third Anniversary of Closing | – | 1,937,500 Consideration Units |
| Total | $300,000 | 7,750,000 Consideration Units |
The Amended Property Option Agreement makes no other changes to the terms of the property option agreement dated November 23, 2022, as amended on May 19, 2023 and February 20, 2024 (the “Property Option Agreement”) other than to amend the timing of the cash payment terms as set out above. A copy of the Amended Property Option Agreement is available on the Company’s SEDAR+ profile at www.sedarplus.ca.
Each Consideration Unit is comprised of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (a “Warrant”), with each Warrant exercisable to acquire one Share at an exercise price of $0.20 for a period of three years.
All securities underlying the Consideration Units are subject to a four month and one day hold period. The Shares comprising the Consideration Units are subject escrow pursuant to the policies of the TSX Venture Exchange (the “TSXV”).
For further information please contact:
Morgan Tincher
Chief Executive Officer
Email: mtincher@auricresources.com
Phone: 236-521-0436
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to timing of payments and Consideration Unit issuances under the Property Option Agreement; the reliability of third-party information; and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.