AEX Gold Inc - CLOSING OF FUNDRAISING & APPOINTMENTS
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO
FIRST DAY OF DEALINGS ON AIM AND
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
The Company's Admission Document can be found on its website: www.aexgold.com
Appointment of Non-Executive Director
In conjunction with the Company's admission to AIM, it is pleased to announce that Sigurbjorn ("Siggi") Thorkelsson joined the board of AEX as independent non-executive director, and Chair of the Audit Committee, on
Eldur Ólafsson, Founder and Chief Executive Officer, commented:
"Further to our admission to AIM in
"I'd also like to welcome Siggi to our Board. Siggi is a highly experienced financier and brings the benefit of his many years of experience and guidance to our Company, both as a banker and an investor, and we look forward to rapidly progressing our high-impact portfolio under his stewardship as a non-executive director of AEX."
Eldur Ólafsson, Founder and Chief Executive Officer Tel: +354 665 2003
Callum Stewart Tel: +44 (0) 20 7710 7600
Camarco (Financial PR)
Gordon Poole Tel: +44 (0) 203 757 4997
Certain Directors and members of the management team of the Company ("Insiders") have subscribed for new common shares pursuant to the Fundraising. The issuance of new common shares to these Insiders pursuant to the Fundraising will be considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). Pursuant to MI 61-101, the Corporation will file a material change report providing disclosure in relation to each "related party transaction" on SEDAR under the Company's issuer profile at www.sedar.com. The Corporation did not file the material change report more than 21 days before the expected closing date of the offering as the details of the offering and the participation therein by each "related party" of the Company were not settled until shortly prior to the closing of the offering, and the Company wished to close the offering on an expedited basis for sound business reasons. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) and (b) of MI 61-101 in respect of any Insider participation.
Common shares issued to Canadian subscribers and to the officers and directors of the Company are subject to a four month and one day hold period which will expire on
This announcement does not contain inside information.
AEX's principal business objectives are the identification, acquisition, exploration and development of gold properties in Greenland. The Corporation's principal asset is a 100% interest in the
This announcement does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any common shares or other securities in the United States, Australia, Japan or the Republic of South Africa or in any other jurisdiction in which such offer or solicitation is unlawful, prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. The distribution of this announcement and other information in connection with Admission and Fundraising in certain jurisdictions may be restricted by law and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Neither this announcement nor any part of it nor the fact of its distribution shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.
No action has been taken by the Company,
This announcement has been issued by and is the sole responsibility of the Company. The information contained in this announcement is for background purposes only and does not purport to be full or complete. The information in this announcement may be subject to change without notice. No undertaking, representation or warranty or other assurance express or implied, is or will be made as to, or in relation to, and, aside from the responsibilities and liabilities, if any, which may be imposed by FSMA or the regulatory regime established thereunder or any other applicable regulatory regime, no responsibility or liability is or will be accepted by the Company, Stifel, Cormark, or Paradigm or any of their respective parent or subsidiary undertakings or the subsidiary undertakings of any such parent undertakings or any of their respective directors, proposed directors, officers, partners or employees or any other person as to or in relation to, the accuracy, completeness, sufficiency or fairness of the information or opinions contained in announcement or any other written or oral information made available to or publicly available to any interested party or its advisers in connection with the Fundraising, and any responsibility or liability therefore is expressly disclaimed. In addition, no duty of care or otherwise is owed by any such person to recipients of this document or any other person in relation to this announcement.
Stifel, which is authorised and regulated by the
Cormark is regulated by the IIROC in Canada and is acting exclusively for the Company and no one else in connection with any investment in the common shares, and will not regard any other person as their client in relation to any investment in the common shares and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients nor for giving advice in relation to any investment in the common shares or any transaction or arrangement referred to herein.
Paradigm is regulated by the IIROC in Canada and is acting exclusively for the Company and no one else in connection with any investment in the common shares, and will not regard any other person as their client in relation to any investment in the common shares and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients nor for giving advice in relation to any investment in the common shares or any transaction or arrangement referred to herein.
Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.
Certain statements in this press release are forward-looking statements and information (collectively "forward-looking statements"), within the meaning of the applicable Canadian securities legislation, as well as other applicable international securities laws. The forward-looking statements contained in this press release are forward-looking and not historical facts.
Some of the forward-looking statements may be identified by statements that express, or involve discussions as to expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "is targeting", "estimated", "intend", "plan", "guidance", "objective", "projection", "aim", "goals", "target", "schedules", and "outlook").
Because actual results or outcomes could differ materially from those expressed in any forward-looking statements, investors should not place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Some of these risks, uncertainties and other factors are similar to those faced by other mining companies and some are unique to the Company. The forward-looking information contained in this news release speaks only as of the date hereof. The Company does not assume any obligation to publicly update the information, except as may be required pursuant to applicable laws.
This information is provided by RNS, the news service of the
Quick facts: AEX Gold
Market Cap: £84.12 m
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