The Company did not file a material change report more than 21 days before the expected closing date of the NSR Transaction as the details of the NSR Transaction and the participation therein by each "related party" of the Company were not settled until shortly prior to the closing of the NSR Transaction, and the Company wished to close the NSR Transaction on an expedited basis for sound business reasons. Sprott and Sprott Co are both considered to be "Insiders", and the NSR Transaction is considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101"). The NSR Royalty is subject to final acceptance of the TSX Venture Exchange. We look forward to continued success on the ground." The acquisition of the Aureus East property has been very successful and in a short period of time we have completely reinterpreted the geological model, identified significant gold mineralization and established a maiden resource. We are pleased that Sprott recognized this hurdle and worked with us in arranging an equitable solution for both parties. Ashcroft, P.Eng., said, "The issuance of the 0.6% NSR to Sprott eliminates the need to allocate capital against future deferred payments and reduces this potential burden on the Company. The termination of the Master Transaction Agreement and the termination release of the Security Documents puts Aurelius on a positive financial footing better able to advance the Aureus Gold Properties and Mikwam and Lipton properties (as further described below).Īurelius CEO, Mark N.J. ![]() The Company thanks Sprott for their support over the past two years. (" Sprott Co"), an affiliate of Sprott (the termination of the Master Transaction Agreement, the termination and release of security, and the granting of the NSR Royalty, together, the " NSR Transaction"). In consideration for terminating the Master Transaction Agreement and terminating and releasing the Security Documents, and has granted an unsecured 0.6% net smelter return royalty (the " NSR Royalty") on the Company's Aureus East Property to 1000321660 Ontario Inc. (" Sprott"), pursuant to which Aurelius owed approximately US$7.2 million in deferred payments, and certain guarantees and security had been delivered by the Company to and in favour of Sprott (the " Security Documents"). (TSXV: AUL) (OTCQB: AURQF) (the " Company" or " Aurelius") is very pleased to announce that, in connection with the acquisition of the Aureus Gold properties, the Company has terminated the master transaction agreement dated as of Febru(the " Master Transaction Agreement") between the Company and a fund managed by Sprott Resource Lending Corp. October 13, 2022) - Aurelius Minerals Inc.
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