Monday, June 16, 2025

Latest

AUX Resources Sees Shareholders Approve Scottie Resources Merger

AUX Resources (TSXV: AUX) this morning had a major announcement. The firm has seen its shareholders approval the previously announced merger with that of Scottie Resources (TSXV: SCOT), enabling the amalgamation to proceed as planned.

The transaction itself will see shareholders of AUX receive one share of Scottie for every share of AUX held. The transaction is slated to be performed on an all-stock basis. Following the transaction, AUX will become a wholly owned subsidiary of Scottie, with the company expected to further consolidate its landholdings in the region.

The transaction is significant for the region, given the extensive land holdings of the two firms, which now become contiguous. Post-merger, the firm will see Scottie’s Cambria project amalgamated with AUX’s Silver Crown, Independence, American Creek, Lower Bear and Bear Pass projects, which is expected to result in operational synergies. The result, is a district scale operator with a total size of 522 square kilometres located in the heart of the Stewart mining camp, of which the Cambria project amounts to 274.7 square kilometres.

The transaction itself is expected to close on July 16, 2021, with AUX to be delisted from the TSX Venture on July 14, in advance of the transaction closing.

AUX Resources last traded at $0.215 on the TSX Venture.


FULL DISCLOSURE: AUX Resources Corporation is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover AUX Resources Corporation on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

First Majestic Silver: The Santa Elena Mine

Equinox Gold: Guidance Cut After Issues At Greenstone

Simply Solventless Q4 Earnings: So Much For Guidance

Recommended

Power Metallic Secures Jabal Baudan Project In Saudi Arabia

NexGen Energy Receives Approval For Site Expansion At Rook I Project

Related News

Grande Portage Intersects 4.50 Metres Of 11.78 G/t Gold At Alaskan Gold Project

Grande Portage Resources (TSXV: GPG) this morning released further assay results from its Herbert Gold...

Wednesday, December 9, 2020, 09:55:54 AM

SKRR Exploration Mobilizes Field Crew For Leland Property Winter Drill Program

SKRR Exploration (TSXV: SKRR) has mobilized crews for its winter drill program at the Leland...

Tuesday, January 26, 2021, 09:25:39 AM

New Found Gold Hits 13.8 Metres of 28.4 G/T Gold At Keats Zone

New Found Gold (TSXV: NFG) this morning released the latest results from the ongoing drill...

Thursday, February 11, 2021, 08:26:30 AM

BITCOIN will Crash & Trump’s Impact on GOLD Prices? | Mike McGlone – Bloomberg

In this interview, Bloomberg Intelligence’s Mike McGlone discusses Bitcoin’s outlook, warning of potential drops from...

Monday, January 20, 2025, 01:30:00 PM

Xander Advances Fenelon Project Following Finding Of Gold Showing

Xander Resources (TSXV: XND) this morning announced that it is advancing its Blue Ribbon Property...

Wednesday, July 29, 2020, 09:34:25 AM