TORONTO, March 8, 2017 /PRNewswire/ - AuRico
Metals Inc. (TSX: AMI), ("AuRico" or the "Company") is pleased
to announce the closing of the previously announced plan of
arrangement (the "Arrangement") pursuant to which AuRico acquired
100% of the outstanding common shares of Kiska Metals Corporation
("Kiska"), other than the Kiska shares already owned by AuRico.
Kiska is now a wholly-owned subsidiary of AuRico.
The Arrangement was approved at a special meeting of Kiska
securityholders held on March 1, 2017
by approximately 96.31% of the votes cast by Kiska securityholders
(voting as a single class) present in person or by proxy. A
final order approving the Arrangement was obtained from the Supreme
Court of British Columbia on
March 3, 2017.
Kiska's royalty portfolio consists of six existing royalties
including royalties on the East
Timmins and Boulevard properties operated by Kirkland Lake Gold and Independence Gold,
respectively. In addition, Kiska's six wholly-owned exploration
projects present organic royalty creation opportunities. All assets
are located in North America and
are expected to further enhance AuRico's existing high quality
royalty pipeline. With the acquisition of Kiska, AuRico now
has a portfolio consisting of 17 royalties.
AuRico's President & CEO Chris
Richter commented, "We are very pleased to close this
accretive transaction which further broadens our royalty portfolio
pipeline in North America and
preserves our strong balance sheet. With a well-diversified
portfolio of royalties in place and several key upcoming catalysts
expected at Kemess in the near-term, we remain very well positioned
for an exciting year ahead."
About AuRico Metals
AuRico Metals is a mining development and royalty company with a
100% interest in the Kemess property in British Columbia, Canada. The Kemess property
hosts the feasibility-stage Kemess Underground Gold-Copper project,
the Kemess East exploration project, and the infrastructure
pertaining to the past producing Kemess South mine. AuRico's
royalty portfolio includes a 1.5% NSR royalty on the Young-Davidson
Gold Mine and a 2% NSR royalty on the Fosterville Mine, as well as
a portfolio of additional producing and pre-production royalty
assets located in North America
and Australia.
Cautionary Statement on Forward-Looking Information
Except for statements of historical fact relating to AuRico
Metals Inc. or Kiska Metals Corporation certain information
contained herein constitutes "forward-looking statements" as such
term is used in applicable Canadian securities laws.
Forward-looking statements include statements that are predictive
in nature, depend upon or refer to future events or conditions, or
include words such as "expects", "anticipates", "plans",
"believes", "considers", "intends", "targets", or negative versions
thereof and other similar expressions, or future or conditional
verbs such as "may", "will", "should", "would" and "could" in
particular, statements related to the Arrangement and the expected
completion thereof. We provide forward-looking statements for the
purpose of conveying information about our current expectations and
plans relating to the future and readers are cautioned that such
statements may not be appropriate for other purposes. By its
nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved.
Other than as specifically required by law, we undertake no
obligation to update any forward-looking statement to reflect
events or circumstances after the date on which such statement is
made, or to reflect the occurrence of unanticipated events, whether
as a result of new information, future events, results or
otherwise.
SOURCE AuRico Metals