TORONTO, May 24, 2024
/CNW/ - This news release is being made by AuRico Metals Inc.
("AuRico") to report a disposition of common shares
("Shares") in the capital of Pacific Ridge Exploration Ltd.
(the "Issuer"), a corporation with a head office at 1100 -
1111 Melville St., Vancouver, British
Columbia, V6E 3V6, Canada.
From May 6 to May 23, 2024, an
aggregate of 2,013,589 Shares were sold through the facilities of
the TSX. Immediately prior to the disposition of Shares
referred to herein, AuRico had control or direction over 16,996,099
Shares, representing approximately 11.23% of the issued and
outstanding Shares. Immediately following the disposition referred
to herein, AuRico had control or direction over 14,982,510 Shares,
representing approximately 9.90% of the issued and outstanding
Shares. The Shares were sold through the facilities of the TSX
at an approximate average price of C$0.08 per Share, for aggregate proceeds of
C$152,164.
AuRico sold the Shares for investment purposes. AuRico has no
current plans or intentions which relate to, or would result in,
acquiring securities of the Issuer, disposing of securities of the
Issuer, or any other actions described in Item 5 of Form 62-103F1
Required Disclosure under the Early Warning Requirements.
Depending on market conditions, AuRico's view of the Issuer's
prospects and other factors AuRico considers relevant, AuRico may
acquire securities of the Issuer from time to time in the future,
in the open market or pursuant to privately negotiated
transactions.
AuRico is a wholly owned subsidiary of Centerra Gold Inc. and
may be considered a joint actor with Centerra Gold Inc. and certain
of its wholly owned subsidiaries, including Thompson Creek Metals
Company Inc., in respect of the Shares. An early warning report
with respect to the disposition will be filed by AuRico on the
Issuer's SEDAR+ profile at www.sedarplus.com.
SOURCE AuRico Metals Inc