Aurania to Extend Term of Previously Issued Warrants
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) has announced plans to extend the exercise period of 1,996,653 unlisted common share purchase warrants by one year. The warrants, originally issued in March 2022 through a non-brokered private placement, are exercisable at $1.25 per share.
The extension affects two tranches of warrants: 1,586,653 warrants will be extended from March 28, 2025, to March 28, 2026, and 410,000 warrants from March 30, 2025, to March 30, 2026. The extension is subject to TSX Venture Exchange acceptance.
CEO Dr. Keith Barron, through Bambazonke Holdings , holds 571,428 of these warrants, making this extension a related party transaction. However, the transaction is exempt from certain requirements under MI 61-101. The extension was approved by independent board members, with Dr. Barron abstaining from the vote.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) ha annunciato piani per estendere il periodo di esercizio di 1.996.653 warrant per l'acquisto di azioni ordinarie non quotate di un anno. I warrant, originariamente emessi nel marzo 2022 tramite un collocamento privato non mediato, sono esercitabili a $1,25 per azione.
L'estensione riguarda due tranche di warrant: 1.586.653 warrant saranno estesi dal 28 marzo 2025 al 28 marzo 2026, e 410.000 warrant dal 30 marzo 2025 al 30 marzo 2026. L'estensione è soggetta all'accettazione della TSX Venture Exchange.
Il CEO Dr. Keith Barron, attraverso Bambazonke Holdings, detiene 571.428 di questi warrant, rendendo questa estensione una transazione con parti correlate. Tuttavia, la transazione è esente da alcuni requisiti ai sensi del MI 61-101. L'estensione è stata approvata dai membri indipendenti del consiglio, con il Dr. Barron che si è astenuto dal voto.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) ha anunciado planes para extender el período de ejercicio de 1.996.653 warrants de compra de acciones ordinarias no cotizadas por un año. Los warrants, emitidos originalmente en marzo de 2022 a través de una colocación privada no mediada, son ejercitables a $1.25 por acción.
La extensión afecta a dos tramos de warrants: 1.586.653 warrants se extenderán del 28 de marzo de 2025 al 28 de marzo de 2026, y 410.000 warrants del 30 de marzo de 2025 al 30 de marzo de 2026. La extensión está sujeta a la aceptación de la TSX Venture Exchange.
El CEO Dr. Keith Barron, a través de Bambazonke Holdings, posee 571.428 de estos warrants, lo que convierte esta extensión en una transacción con partes relacionadas. Sin embargo, la transacción está exenta de ciertos requisitos bajo el MI 61-101. La extensión fue aprobada por miembros independientes de la junta, con el Dr. Barron absteniéndose de votar.
아우라니아 리소스 (TSXV: ARU) (OTCQB: AUIAF)는 비상장 보통주 매수권 1,996,653개의 행사 기간을 1년 연장할 계획을 발표했습니다. 이 매수권은 2022년 3월 비중개 사모를 통해 처음 발행되었으며, 주당 $1.25에 행사할 수 있습니다.
이번 연장은 두 개의 트랜치에 영향을 미칩니다: 1,586,653개의 매수권은 2025년 3월 28일에서 2026년 3월 28일로 연장되며, 410,000개의 매수권은 2025년 3월 30일에서 2026년 3월 30일로 연장됩니다. 이 연장은 TSX 벤처 거래소의 승인을 조건으로 합니다.
CEO인 Dr. Keith Barron은 Bambazonke Holdings를 통해 571,428개의 매수권을 보유하고 있어 이번 연장은 관련 당사자 거래가 됩니다. 그러나 이 거래는 MI 61-101에 따른 특정 요구 사항에서 면제됩니다. 이 연장은 독립 이사들에 의해 승인되었으며, Dr. Barron은 투표에서 기권했습니다.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) a annoncé des plans pour prolonger la période d'exercice de 1.996.653 bons de souscription d'actions ordinaires non cotées d'un an. Les bons, émis à l'origine en mars 2022 par le biais d'un placement privé non intermédié, sont exerçables à 1,25 $ par action.
La prolongation concerne deux tranches de bons : 1.586.653 bons seront prolongés du 28 mars 2025 au 28 mars 2026, et 410.000 bons du 30 mars 2025 au 30 mars 2026. Le prolongement est soumis à l'acceptation de la TSX Venture Exchange.
Le PDG Dr. Keith Barron, par l'intermédiaire de Bambazonke Holdings, détient 571.428 de ces bons, faisant de cette prolongation une transaction avec des parties liées. Cependant, la transaction est exemptée de certaines exigences en vertu du MI 61-101. Le prolongement a été approuvé par des membres indépendants du conseil, le Dr Barron s'étant abstenu de voter.
Aurania Resources (TSXV: ARU) (OTCQB: AUIAF) hat Pläne angekündigt, die Ausübungsfrist von 1.996.653 nicht gelisteten Aktienoptionsscheinen um ein Jahr zu verlängern. Die Optionsscheine, die ursprünglich im März 2022 im Rahmen einer nicht vermittelten Privatplatzierung ausgegeben wurden, sind zum Preis von 1,25 $ pro Aktie ausübbar.
Die Verlängerung betrifft zwei Tranchen von Optionsscheinen: 1.586.653 Optionsscheine werden von 28. März 2025 auf 28. März 2026 verlängert, und 410.000 Optionsscheine von 30. März 2025 auf 30. März 2026. Die Verlängerung unterliegt der Genehmigung der TSX Venture Exchange.
CEO Dr. Keith Barron hält über Bambazonke Holdings 571.428 dieser Optionsscheine, was diese Verlängerung zu einer Transaktion mit nahestehenden Personen macht. Die Transaktion ist jedoch von bestimmten Anforderungen gemäß MI 61-101 ausgenommen. Die Verlängerung wurde von unabhängigen Vorstandsmitgliedern genehmigt, wobei Dr. Barron sich der Stimme enthielt.
- None.
- None of the warrants have been exercised at $1.25 per share, suggesting possible unfavorable market conditions
- Second warrant extension in two years indicates potential challenges in attracting warrant exercise at current terms
Toronto, Ontario--(Newsfile Corp. - February 20, 2025) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") announces that it intends to extend the exercise period for a total of 1,996,653 of its unlisted common share purchase warrants, 1,586,653 of which are currently set to expire on March 28, 2025, and 410,000 on March 30, 2025, all of which are exercisable for a common share of Aurania (a "Share") at
The Warrants were originally issued pursuant to a non-brokered private placement that closed in two tranches: 1,586,653 Warrants were issued in the first tranche on March 28, 2022 (the "First Tranche") and 410,000 Warrants were issued in the second tranche on March 30, 2022 (the "Second Tranche"). None of the Warrants have been exercised. At the time of issuance, these Warrants had expiry dates of March 28, 2024 and March 30, 2024 respectively and they were extended by one year (see press release dated January 29, 2024).
Dr. Keith Barron, the Chief Executive Officer, director, promoter, and a significant shareholder of the Company participated in the First Tranche (subscribing through Bambazonke Holdings Ltd., a wholly-owned company of Dr. Barron) and accordingly was issued 571,428 of the Warrants, of which, Dr. Barron currently still holds (the "Insider Warrants"). Dr. Barron's ownership of the Insider Warrants renders the Extension a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the Extension is exempt from the requirements of Part 5 of MI 61-101 pursuant to Section 5.1(k) of MI 61-101.
The Extension was approved by the independent members of the board of directors of the Company, being all directors other than Dr. Barron, who abstained due to his ownership of the Insider Warrants. No special committee was established in connection with the Extension, and no materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.
For further details concerning the original issuance and previous extension of the Warrants, please see the Company's news releases dated March 28, 2022, March 30, 2022, and January 29, 2024.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
Information on Aurania and technical reports are available at www.aurania.com and www.sedarplus.ca, as well as on Facebook at https://www.facebook.com/auranialtd/, X (formerly Twitter) at https://x.com/AuraniaLtd , and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com
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.
Cautionary Statement Regarding Forward-Looking Information:
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about the extension of the expiry period of the Warrants and any expectations related to development of Aurania's properties and Aurania's mining operations. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that there will be no material adverse change in copper and precious metal prices, and that all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, any failures to obtain or delays in obtaining required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania, and a failure to comply with environmental regulations. Aurania cautions the reader that the above list of risk factors is not exhaustive.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241652
FAQ
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