MONTREAL, Aug. 8, 2024
/CNW/ - Auxico Resources Canada Inc. (CSE: AUAG)
("Auxico" or the "Company") announces that as
a result of the agreed corporate strategy and prioritizing the
development of key projects in Colombia and Bolivia, and as announced in the news release
that the Company issued on December 19,
2023, the Company's Board of Directors has decided not to
allocate any further capital to the Massangana Project located in
the state of Rondônia, Brazil.
Auxico also announces that the sales agency agreement that the
Company signed on March 30, 2022 with
Central America Nickel Inc. (as announced by the Company in the
news release issued on March 30,
2022) with regard to the exclusive trading rights for rare
earth concentrates exported from the Democratic Republic of Congo, has expired on
March 30, 2024.
The Company will no longer operate or invest in any of its
projects in Brazil and
Democratic Republic of Congo.
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. ("Auxico") is a Canadian company
that was founded in 2014 and based in Montreal, trading on the Canadian Stock
Exchange (CSE) under symbol AUAG. Auxico is engaged in the
acquisition, exploration and development of mineral properties in
Colombia and Bolivia.
Additional information on Auxico can be found on the Company's
website (www.auxicoresources.com) or on SEDAR+ (www.sedarplus.ca)
under "Auxico Resources Canada Inc."
ON BEHALF OF THE BOARD OF DIRECTORS
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« signed. »
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« signed. »
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Pierre Gauthier
CEO & President, Auxico Resources Canada Inc
pg@auxicoresources.com
Cell: +1 514 299 0881
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Mark Billings
Chairman, Auxico Resources Canada Inc.
mb@auxicoresources.com
Cell: +1 514 296 1641
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Cautionary Note Regarding Forward-Looking Statements
The CSE has neither approved nor disapproved the contents of
this press release. Neither the CSE nor its Regulation Services
Provider (as that term is defined in the policies of the CSE)
accepts responsibility for the adequacy or accuracy of this press
release.
This press release contains statements that constitute
"forward-statements." Such forward looking statements involve known
and unknown risks, uncertainties and other factors that may cause
the Company's actual results, performance or achievements, or
developments to differ materially from the anticipated results,
performance or achievements expressed or implied by such
forward-looking statements.
Although the Company believes, in light of the experience of
its officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on
them because the Company can give no assurance that they will prove
to be correct. When used in this press release, the words
"estimate", "project", "belief", "anticipate", "intend", "expect",
"plan", "predict", "may" or "should" and the negative of these
words or such variations thereon or comparable terminology are
intended to identify forward-looking statements and information.
The forward-looking statements and information in this press
release include information relating to the planned studies, drill
program and the development of the Minastyc, El Bento/Monte Verde or other Projects, its sampling
programs, indications and other mining projects and prospects
thereof, related to the Company's operations in Colombia and/or Bolivia. Such statements and information
reflect the current view of the Company. Risks and uncertainties
that may cause actual results to differ materially from those
contemplated in those forward-looking statements and
information.
By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
The forward-looking information contained in this news
release represents the expectations of the Company as of the date
of this news release and, accordingly, is subject to change after
such date. Readers should not place undue importance on
forward-looking information and should not rely upon this
information as of any other date. The Company undertakes no
obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors,
should change.
The Company cautions investors that any forward-looking
information provided by the Company is not a guarantee of future
results or performance, and that actual results may differ
materially from those in forward-looking information as a result of
various risk factors. These factors include, among others,
uncertainties arising from the COVID-19 pandemic, and general
economic conditions or conditions in the financial markets. The
reader is referred to the Company's public filings for a more
complete discussion of such risk factors, and their potential
effects, which may be accessed through the Company's profile on
SEDAR+ (www.sedarplus.ca). Except as required by securities law,
the Company does not intend, and does not assume any obligation, to
update or revise any forward-looking information, whether as a
result of new information, events or otherwise.
SOURCE Auxico Resources Canada Inc.