African Energy Metals Obtains TSXV Conditional Approval
African Energy Metals (TSXV: CUCO.H) has received conditional approval from the TSX Venture Exchange for its reactivation from NEX to Tier 2. The reactivation is connected to the company's option agreement dated January 20, 2025, with Rio Silver Inc. to acquire a 100% interest in the Niñobamba advanced silver gold project in Peru.
The final approval is contingent on three key conditions: completing a previously announced $1,000,000 private placement financing, paying Exchange fees, and obtaining Exchange acceptance of the company's NI-43-101 technical report for the project. Upon reactivation, the company will rebrand as Magma Silver Corp. and change its trading symbol to 'MAGA'.
African Energy Metals (TSXV: CUCO.H) ha ricevuto l'approvazione condizionata dalla TSX Venture Exchange per la sua riattivazione da NEX a Tier 2. La riattivazione è collegata all'accordo di opzione dell'azienda datato 20 gennaio 2025, con Rio Silver Inc. per acquisire una partecipazione del 100% nel progetto avanzato di argento e oro Niñobamba in Perù.
L'approvazione finale è soggetta a tre condizioni chiave: completare un finanziamento di private placement da 1.000.000 di dollari precedentemente annunciato, pagare le tasse di Exchange e ottenere l'accettazione da parte dell'Exchange del rapporto tecnico NI-43-101 dell'azienda per il progetto. Una volta riattivata, l'azienda si rebrandizzerà come Magma Silver Corp. e cambierà il suo simbolo di trading in 'MAGA'.
African Energy Metals (TSXV: CUCO.H) ha recibido la aprobación condicional de la TSX Venture Exchange para su reactivación de NEX a Tier 2. La reactivación está relacionada con el acuerdo de opción de la compañía fechado el 20 de enero de 2025, con Rio Silver Inc. para adquirir un interés del 100% en el proyecto avanzado de plata y oro Niñobamba en Perú.
La aprobación final está sujeta a tres condiciones clave: completar un financiamiento de colocación privada de $1,000,000 previamente anunciado, pagar las tarifas de Exchange y obtener la aceptación del Exchange del informe técnico NI-43-101 de la compañía para el proyecto. Tras la reactivación, la compañía se rebranding como Magma Silver Corp. y cambiará su símbolo de cotización a 'MAGA'.
African Energy Metals (TSXV: CUCO.H)는 NEX에서 Tier 2로의 재활성화를 위해 TSX Venture Exchange의 조건부 승인을 받았습니다. 재활성화는 2025년 1월 20일자로 Rio Silver Inc.와 체결한 옵션 계약과 관련이 있으며, 이는 페루의 니뇨밤바 고급 은 금 프로젝트에 대한 100% 지분 인수를 포함합니다.
최종 승인은 세 가지 주요 조건에 따라 달라집니다: 이전에 발표된 1,000,000달러의 사모펀드 조달 완료, 거래소 수수료 지급, 그리고 프로젝트에 대한 회사의 NI-43-101 기술 보고서에 대한 거래소의 수락을 받는 것입니다. 재활성화가 완료되면, 회사는 Magma Silver Corp.로 브랜드를 변경하고 거래 기호를 'MAGA'로 변경할 것입니다.
African Energy Metals (TSXV: CUCO.H) a reçu l'approbation conditionnelle de la TSX Venture Exchange pour sa réactivation de NEX à Tier 2. La réactivation est liée à l'accord d'option de l'entreprise daté du 20 janvier 2025, avec Rio Silver Inc. pour acquérir un intérêt de 100% dans le projet avancé d'argent et d'or Niñobamba au Pérou.
L'approbation finale dépend de trois conditions clés : la réalisation d'un financement par placement privé de 1 000 000 $ précédemment annoncé, le paiement des frais d'échange et l'acceptation par l'échange du rapport technique NI-43-101 de l'entreprise pour le projet. Après la réactivation, l'entreprise changera de marque pour devenir Magma Silver Corp. et modifiera son symbole de négociation en 'MAGA'.
African Energy Metals (TSXV: CUCO.H) hat die bedingte Genehmigung der TSX Venture Exchange für die Reaktivierung von NEX auf Tier 2 erhalten. Die Reaktivierung steht im Zusammenhang mit der Optionsvereinbarung des Unternehmens vom 20. Januar 2025 mit Rio Silver Inc. zum Erwerb eines 100% Anteils am fortgeschrittenen Silber-Gold-Projekt Niñobamba in Peru.
Die endgültige Genehmigung hängt von drei wesentlichen Bedingungen ab: dem Abschluss einer zuvor angekündigten Private Placement-Finanzierung in Höhe von 1.000.000 USD, der Zahlung von Börsengebühren und der Genehmigung des technischen Berichts NI-43-101 des Unternehmens für das Projekt durch die Börse. Nach der Reaktivierung wird das Unternehmen als Magma Silver Corp. umbenannt und sein Handelssymbol in 'MAGA' ändern.
- Conditional approval received for TSXV upgrade from NEX to Tier 2
- Option to acquire 100% interest in advanced silver-gold project
- $1M private placement financing in progress
- Final approval still pending multiple conditions
- Additional capital required for Exchange fees
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2025) - African Energy Metals Inc. (TSXV: CUCO.H) (FSE: BC2) (WKN: A3DEJG) ("African Energy Metals" or the "Company") is pleased to announce that the Company's proposed reactivation from NEX to Tier 2 (the "Reactivation") of the TSX Venture Exchange (the "Exchange"), in connection with the Company's option agreement dated January 20, 2025 with Rio Silver Inc. to acquire a
Final approval of the Reactivation is subject to, among other things: (i) closing of the Company's previously announced
About African Energy Metals
African Energy Metals is a natural resource company with a focus on the acquisition, exploration, development, and operation of precious metal mining exploration projects. The Company's primary focus will be on exploring and developing the advanced Niñobamba silver gold project in the mining supportive country of Peru.
For further information, please contact African Energy Metals:
Stephen Barley, Executive Chairman
Jason Baker, Chief Financial Officer
Phone: +1-604-252-2672
Email: info@africanenergymetals.com
Website: www.africanenergymetals.com
Reader Advisory
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. This news release contains forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information. Forward-Looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in African Energy Metals' periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward- looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-Looking statements include those in relation to: African Energy Metals' ability to close on the acquisition of the Niñobamba Project and to satisfy TSX Venture Exchange and NEX Exchange requirements in connection with the acquisition and reactivation; completion of the private placement financing; and completion of the name and ticker symbol change. Although African Energy Metals believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can't make any assurances that its expectations will be achieved. Such assumptions may prove incorrect. Although African Energy Metals has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that African Energy Metals will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and African Energy Metals disclaims any intention or obligation to update or revise such information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242601
FAQ
What are the conditions for African Energy Metals' TSXV reactivation to Tier 2?
What is the new name and symbol planned for African Energy Metals after reactivation?
What project acquisition is tied to African Energy Metals' TSXV reactivation?
When was the option agreement signed for the Niñobamba project?
