Vancouver, British Columbia–(Newsfile Corp. – July 8, 2026) – Auric Minerals Corp. (CSE: AUMC) (FSE: QJ4) (“Auric” or the “Company“) announces that, subject to regulatory approval, the Company intends to complete debt settlements by the issuance of a total of 296,551 common shares (each a “Share“) at a deemed price of $0.145 per Share to settle debts owing pursuant to past management and director services provided to the Company for a total amount of $43,000 (excluding goods and services tax) (the “Debt Settlements“).
The Shares issued in connection with the Debt Settlements will be subject to a statutory hold period of four months following the closing of the Debt Settlements in accordance with applicable securities legislation.
Chris Huggins, CEO and a director of the Company, Mike Boivin, a director of the Company and Scott Hayduk, a director of the Company, are participating in the Debt Settlement for 296,551 Shares through companies each insider operates. As a result, the Debt Settlement is considered a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company will rely upon section 5.5(b), being the “Issuer Not Listed on Specified Markets” exemption and section 5.7(b) the “Fair Market Value Not More than $2,500,000” exemption from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.
About the Company
Auric is a mineral exploration company based in Oakville, Ontario and holds options over a growing property position of highly prospective Uranium properties in Labrador’s Central Mineral Belt, Quebec; and a gold property, Goodeye, in British Columbia, Canada.
Auric is a mineral exploration company engaged in the identification, acquisition, exploration and development of mineral projects. The Company holds a 100% interest in mineral properties covering over 26,500 hectares across multiple mineralized corridors in the English Lake Project, Otter Lake Project and Kan Project in the Central Mineral Belt of Labrador, Canada. The Company also holds the exclusive option to acquire 100% interest in the Goodeye Property, located southwest of the town of Rossland, British Columbia, Canada, consisting of three contiguous Mineral Claims covering approximately 1,907 hectares located in the Trail Creek Mining Division of British Columbia.
For more information:
Chris Huggins, CEO & Director
Auric Minerals Corp.
(604) 968-4844
chris@greenwood.capital
Forward-Looking Statements
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s intentions, statements respecting completion of the LIFE Offering and Debt Settlement, plans and future actions described herein and the terms thereon. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Neither the Canadian Securities Exchange 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 release.
Source: https://www.newsfilecorp.com/release/304467/Auric-Minerals-Corp.-Announces-Proposed-Debt-Settlement
