RooGold Closes Property Acquisition

Rhea-AI Summary

RooGold Inc. has finalized its acquisition of a 100% interest in Aussie Precious Metals Corp.'s Trilby and Lorne properties in New South Wales, Australia, following regulatory approval. In exchange for all outstanding shares of APMC, RooGold issued 4 million common shares to APMC's shareholders. This acquisition enhances RooGold's mineral exploration capabilities in a region rich in precious metals, expanding its portfolio to 13 gold and silver concessions covering 1,380 km² with 137 historic mines and prospects.

Positive

• Acquisition of 100% interest in Trilby and Lorne properties adds valuable assets.
• Expansion of mineral exploration portfolio to 13 high-grade concessions.
• Strategic positioning in New South Wales, a prolific precious metals region.

Negative

• None.

TORONTO, ON / ACCESSWIRE / November 3, 2022 / (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) - RooGold Inc. ("RooGold" or the "Issuer").

Further to its September 30, 2021 news release, RooGold is pleased to announce, with Australian regulatory clearance obtained, the final closing of the definitive Share Exchange Agreement with Aussie Precious Metals Corp. ("APMC") in which RooGold has effectively acquired a 100% interest in APMC's Trilby and Lorne properties ("Properties") in New South Wales (NSW) Australia. The Issuer issued four million (4,000,000) common shares (the "Purchase Shares") to the shareholders ("Shareholders") of APMC in exchange for all of the issued and outstanding shares of APMC with the Properties held in APMC's wholly owned Australian subsidiary. The Purchase Shares have now been released from escrow subject to voluntary undertakings as to when such Purchase Shares may be traded.

About RooGold Inc.
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.

For further information please contact:
Ryan Bilodeau
(416) 910-1440
info@roogoldinc.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, therecan be no assurance that such expectations will prove to be correct. Such forward-looking statements are subjectto risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: RooGold Inc.

View source version on accesswire.com:
https://www.accesswire.com/723910/RooGold-Closes-Property-Acquisition

FAQ

What is the significance of RooGold's acquisition of Aussie Precious Metals Corp.?

RooGold's acquisition of Aussie Precious Metals Corp. is significant as it enhances their portfolio with high-potential gold and silver properties in New South Wales, crucial for their growth strategy.

How many shares did RooGold issue for the acquisition of APMC?

RooGold issued 4 million common shares to the shareholders of Aussie Precious Metals Corp. as part of the acquisition agreement.

What properties did RooGold acquire from Aussie Precious Metals Corp.?

RooGold acquired the Trilby and Lorne properties from Aussie Precious Metals Corp., which are located in New South Wales, Australia.

What is RooGold's strategy in New South Wales?

RooGold's strategy in New South Wales focuses on consolidating and exploring high-potential mineralized precious metals properties, aiming to become a dominant player in the region.

How many historic mines and prospects does RooGold now command?

RooGold now commands a portfolio that includes 137 historic mines and prospects across its 13 high-grade mineral concessions.