Heliostar Receives Regulatory Approval for Acquisition of Mexico Business Unit from Florida Canyon Gold Inc.
Heliostar Metals has received clearance from COFECE (Comisión Federal de Competencia Económica) for its planned acquisition of the Mexico Business Unit from Florida Canyon Gold. This regulatory approval was the final major requirement needed before closing the acquisition, which is expected to take place in early November 2024. The company trades under the symbols HSTR on TSXV, HSTXF on OTCQX, and RGG1 on FSE.
Heliostar Metals ha ricevuto l'autorizzazione dalla COFECE (Comisión Federal de Competencia Económica) per l'acquisizione della Business Unit messicana da Florida Canyon Gold. Questa approvazione regolatoria era l'ultimo requisito principale necessario prima della chiusura dell'acquisizione, prevista per inizio novembre 2024. L'azienda è quotata con i simboli HSTR su TSXV, HSTXF su OTCQX e RGG1 su FSE.
Heliostar Metals ha recibido la autorización de COFECE (Comisión Federal de Competencia Económica) para su adquisición planificada de la Unidad de Negocios de México de Florida Canyon Gold. Esta aprobación regulatoria era el último requisito importante necesario antes de cerrar la adquisición, que se espera que se realice a principios de noviembre de 2024. La empresa cotiza bajo los símbolos HSTR en TSXV, HSTXF en OTCQX y RGG1 en FSE.
Heliostar Metals는 COFECE(경제 경쟁 연방 위원회)로부터 플로리다 캐니언 골드의 멕시코 비즈니스 유닛 인수에 대한 승인을 받았습니다. 이 규제 승인은 인수 계약을 체결하기 전에 필요한 마지막 주요 요건이었으며, 인수는 2024년 11월 초에 이루어질 것으로 예상됩니다. 회사는 TSXV에서 HSTR, OTCQX에서 HSTXF, FSE에서 RGG1 기호로 거래됩니다.
Heliostar Metals a reçu l'autorisation de la COFECE (Commission Fédérale de la Concurrence Économique) pour son acquisition prévue de l'Unité Commerciale du Mexique de Florida Canyon Gold. Cette approbation réglementaire était la dernière exigence majeure nécessaire avant de finaliser l'acquisition, prévue pour début novembre 2024. La société est cotée sous les symboles HSTR sur TSXV, HSTXF sur OTCQX et RGG1 sur FSE.
Heliostar Metals hat die Genehmigung von COFECE (Comisión Federal de Competencia Económica) für die geplante Übernahme der mexikanischen Geschäftseinheit von Florida Canyon Gold erhalten. Diese regulatorische Genehmigung war die letzte wichtige Voraussetzung, die vor dem Abschluss der Übernahme benötigt wurde, die voraussichtlich Anfang November 2024 stattfinden wird. Das Unternehmen wird unter den Symbolen HSTR an der TSXV, HSTXF an der OTCQX und RGG1 an der FSE gehandelt.
- Obtained final major regulatory approval for acquisition
- Acquisition closing timeline confirmed for early November 2024
- None.
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to announce receipt of the clearance decision from the Comisión Federal de Competencia Económica ("COFECE") with respect to the pending acquisition of the Mexico Business Unit of the former Argonaut Gold from Florida Canyon Gold Inc. COFECE approval was the final substantive regulatory approval required prior to closing the acquisition of the Mexico Business Unit, which is anticipated in early November 2024.
About Heliostar Metals Ltd.
Heliostar aims to grow to become a mid-tier gold producer. The Company is focused on developing the
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
| Charles Funk President and Chief Executive Officer Heliostar Metals Limited Email: charles.funk@heliostarmetals.com Phone: +1 844-753-0045 | Rob Grey Investor Relations Manager Heliostar Metals Limited Email: rob.grey@heliostarmetals.com Phone: +1 844-753-0045 |
Neither 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 includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: COFECE approval was the final substantive regulatory approval required prior to closing the acquisition of the Mexico Business Unit, which is anticipated in early November 2024.
Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect the Company's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual 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 or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company's mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding exploration and mining activities; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in the Company's public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227504
FAQ
When did Heliostar (HSTXF) receive COFECE approval for the Mexico Business Unit acquisition?
When is Heliostar (HSTXF) expected to close the Mexico Business Unit acquisition?
What was the final regulatory approval needed for Heliostar's (HSTXF) Mexico Business Unit acquisition?
