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VANCOUVER, BC / ACCESSWIRE / October 1, 2021 / (CSE:ROO)(OTC PINK:JNCCD)(FRA:5VHA) - RooGold Inc. ("RooGold" or the "Issuer") is pleased to announce the closing in escrow ("Escrow Closing") of the definitive Share Exchange Agreement ("SEA") with Aussie Precious Metals Corp. ("APMC") whereby RooGold has effectively acquired a 100% interest in APMC's Trilby and Lorne properties ("Properties") in New South Wales (NSW) Australia. The Issuer issued four million (4,000,000) common shares (the "Purchase Shares") to the shareholders of APMC ("Shareholders") in exchange for all of the issued and outstanding shares of APMC with the Properties held in APMC's wholly owned Australian subsidiary. APMC Shareholders have entered into voluntary lock-up undertakings ("Undertakings") with the Issuer. Pursuant to terms of the Undertakings, a majority of the Purchase Shares shall be released in tranches for a period of up to two years from Escrow Closing. In connection with the Escrow Closing, the Purchase Shares are currently being held in escrow pending New South Wales ministerial approval ("Ministerial Approval") of the change in ownership of the Properties and the satisfaction of other final closing conditions. The Issuer expects to shortly make application to the Minister for such approval and will provide prescribed due diligence information on the Issuer as part of such application process. Once Ministerial Approval is obtained and the other closing conditions are satisfied, the final closing of the acquisition will occur and the escrow closing documents will be released from escrow. The Issuer expects the Ministerial Approval to be granted in due course given that such approval has already been received in connection with other acquisitions by the Issuer.
About ROOGOLD
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of highly mineralized precious metals properties in this prolific region of Australia. Through its acquisition of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which is home to 137 historic mines and prospects.
For further information please contact:
Michael Mulberry
T: 778-855-5001
info@roogoldinc.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subjectto risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: RooGold Inc.
View source version on accesswire.com:
https://www.accesswire.com/666358/Roogold-Completes-Further-Acquisition-of-Australian-Properties
