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Drill Results

Auric Resources signs definitive property agreement

By The Northwire Desk — AI Analysis Sep 26, 2025 · 18:00 RES · 0.105 Auric Resources Corp.
RES · Price

Executive Summary

  • Auric Resources Corp. entered into a definitive share purchase agreement to acquire 10003 Ontario Inc., issuing 16.7 million common shares as consideration (1‑for‑1 exchange).
  • The acquisition adds exploration assets in British Columbia, Ontario and Quebec targeting copper, nickel, PGMs, gold and lithium.
  • Closing is subject to TSX Venture Exchange approval and shareholder consent; related‑party directors will receive a combined 5.95 million of the consideration shares.

Key Details

  • Transaction Structure: Share purchase agreement dated Sept. 26 2025; Auric to acquire all issued & outstanding shares of 10003 in exchange for 16.7 M common shares (one‑for‑one).
  • Consideration Shares: 16.7 M shares; 5.95 M shares issued to non‑arm’s‑length parties (≈10% of pre‑closing Auric share pool) requiring TSX‑V majority shareholder approval.
  • Related Party Allocation: CEO Morgan Tincher – 1.0 M shares; Director Thomas J. Obradovich – 4.95 M shares. Transaction exempt from formal valuation/minority approval (fair market value <25% of market cap).
  • Closing Conditions: Subject to TSX Venture Exchange approval and written consent resolution by Auric shareholders; no finder’s fees payable.
  • Share Resale Restrictions: Consideration shares subject to TSX‑V seed share resale restrictions and a one‑year hold period, with 20% released quarterly (first release on next TSX‑V bulletin date).
  • Properties Acquired:
  • Tulameen Arrastra Creek & Tulameen Granite Creek (BC): 14 unpatented claims over 26.3 km; historic work; prospective for Cu, Ni, PGM, Au; 1.5% NSR royalty to original vendors.
  • Georgia Lake (ON): 2,262 ha, 107 unpatented single‑cell claims near Rock Tech Lithium’s project; located in Quetico subprovince (LCT‑type lithium); recent airborne surveys & soil sampling; no royalty noted.
  • Rimouski (QC): 49 cell claims covering ~2,820 ha; hosts Quebec’s largest stream‑sediment Li anomaly; 2.0% NSR royalty to original vendors.
  • Regulatory Filings: Share purchase agreement to be filed on SEDAR+; material change report for related‑party share issuances anticipated >21 days before closing.
  • Qualified Person: William Yeomans, P.Geo., President of Yeomans Geological Inc., reviewed and approved technical information (also a shareholder of 10003).

Notable Quotes

(No direct quotes provided in the release.)

Read the original news release →

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