Latest news with #Auxico
Cision Canada
6 days ago
- Business
- Cision Canada
AUXICO ANNOUNCES CORPORATE UPDATE - SALE OF MEXICAN SUBSIDIARY AND APRIL 17, 2025 TECHNICAL PRESENTATION REVIEW
MONTREAL, Aug. 13, 2025 /CNW/ - Auxico Resources Canada Inc. (CSE: AUAG) ("Auxico" or the "Company") announces the completion of the sale of its wholly owned Mexican subsidiary, Auxico Resources S.A. de C.V., for total proceeds of USD $200,000. The transaction follows the option agreement previously announced on April 10, 2025, and was completed through the transfer of all issued and outstanding shares to entities controlled by Concordia Silver Company S.A. de C.V. The Company also announces that it is retracting the technical and scientific information contained in its April 17, 2025 Management Update Call presentation. This information was not prepared or approved by a Qualified Person as required under Regulation 43-101 respecting Standards of Disclosure for Mineral Projects ("Regulation 43-101") and included concentrate grades, production rates, and cost estimates that should not have been disclosed. Auxico did not intend to provide any information of a technical nature that acted as a proxy for the rare earth metals contained in any deposits on the projects currently being operated by the Company, and Auxico further confirms that it has no mineral resources or mineral reserves calculated with respect to its exploration projects. As such, this information should not be relied upon when making an investment decision. To support the review process, the Company has mandated Eugene Puritch, CET, President and Principal Mining Engineer at P&E Mining Consultants Inc., a Qualified Person as defined by Regulation 43-101, to review the presentation. The Company confirms that all future technical disclosures will comply with Canadian securities regulations. About Auxico Resources Canada Inc. Auxico Resources Canada Inc. is a Canadian company that was founded in 2014 and is based in Montreal, trading on the Canadian Stock Exchange (CSE) under the symbol AUAG. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Bolivia. Additional information on Auxico can be found on the Company's website ( or on SEDAR+ ( under "Auxico Resources Canada Inc." The CSE has neither approved nor disapproved the contents of this press release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Note Regarding Forward-Looking Statements This press release contains statements that constitute "forward-statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned studies, drill program and the development of the Minastyc, El Bento/Monte Verde or other Projects, its sampling programs, indications and other mining projects and prospects thereof, related to the Company's operations in Colombia and/or Bolivia. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various risk factors. These factors include, among others, uncertainties arising from the COVID-19 pandemic, and general economic conditions or conditions in the financial markets. The reader is referred to the Company's public filings for a more complete discussion of such risk factors, and their potential effects, which may be accessed through the Company's profile on SEDAR+ ( Except as required by securities law, the Company does not intend, and does not assume any obligation, to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
Yahoo
11-04-2025
- Business
- Yahoo
Auxico Resources Canada to sell Mexican subsidiary to Concordia Silver Company
Auxico Resources Canada has signed an option agreement to sell its wholly owned Mexican subsidiary, Auxico Resources S.A. de C.V. (Auxico Mexico), to Concordia Silver Company (CSC), a privately-held mineral exploration company. This decision aligns with Auxico's objectives to strengthen its financial position and focus on its core assets. Under the terms of the option agreement dated 27 March 2025, CSC has a 60-day window to complete the acquisition of Auxico Mexico. The total consideration for the sale is set at $666,666 (C$923,756), which is structured to be paid in two instalments. An initial payment of $222,222 is due upon the execution of a definitive share purchase agreement, which will follow a due diligence period. The remaining $444,444 is contingent upon the full reinstatement of the Mineral de Zamora mining concession (Title No. 225182) by the Mexican Mining Authority. Upon the closure of the deal, CSC will inherit all the existing obligations tied to Auxico Mexico, including those related to the Zamora Property in Sinaloa, Mexico. The transaction will enable Auxico to further develop its critical mineral projects in Colombia and Bolivia. Auxico's Minastyc Property in Vichada, Colombia, spans 188ha and holds both mineral and surface rights. It lies in a strategic critical minerals zone, with environmental and small-scale mining permits secured through 2040. Sampling revealed rare earth elements, tin, tantalum, niobium and others, although no drilling or metallurgical testing has occurred. Auxico's past-producing El Benton Mine in Bolivia is located around 200km from Santa Cruz in Bolivia's Ñuflo de Chávez province and covers 739ha. In September 2023, Auxico entered into a memorandum of understanding to acquire an 85% interest in Empresa Minera El Benton, which owns the mining title and rights to the El Benton Mine and adjacent Monte Verde concessions in Bolivia. "Auxico Resources Canada to sell Mexican subsidiary to Concordia Silver Company" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
