TORONTO, Dec. 19, 2019 /CNW/ - AbraPlata Resource Corp.
(TSX.V:ABRA; OTCPK: ABBRF) ("AbraPlata") and Aethon
Minerals Corp. (TSX.V:AET) ("Aethon") are pleased to
announce the completion of the previously announced plan of
arrangement (the "Arrangement") under the Canada Business
Corporations Act (the "CBCA"). The Arrangement
was approved by the Aethon shareholders on December 12, 2019 in accordance with the
requirements of the CBCA, the Ontario Superior Court of Justice
(Commercial List) issued a final order in respect of the
Arrangement on December 16, 2019.
Under the terms of the Arrangement, each former Aethon
shareholder is now entitled to receive 3.75 common share in the
capital of AbraPlata for each Aethon common share held prior to the
Arrangement (the "Consideration"). As a result of the
Arrangement, the common shares of Aethon (the "Aethon
Shares") will be delisted from the TSX Venture Exchange and
Aethon will apply to the relevant securities commissions to cease
to be a reporting issuer under Canadian securities laws.
Pursuant to the letter of transmittal mailed to Aethon
shareholders as part of the material in connection with the special
meeting of Aethon shareholders held on December 12, 2019, in order to receive the
Consideration to which they are entitled, registered holders of
Aethon Shares will be required to deposit their share
certificate(s) representing Aethon Shares, together with the duly
completed letter of transmittal, with TSX Trust Company, the
depositary under the Arrangement. Shareholders whose Aethon Shares
are registered in the name of a broker, dealer, bank, trust company
or other nominee should contact their nominee with questions
regarding the receipt of the Consideration.
Details of the Arrangement, including a summary of the terms and
conditions of the Arrangement Agreement, as amended, were disclosed
in a management information circular of Aethon, which was mailed to
holders of Aethon Shares, options, and warrants on November 20, 2019, and which is available under
Aethon's profile on SEDAR at www.sedar.com.
Management and Directors
Concurrent with the closing of the Arrangement, AbraPlata will
now be led by Aethon's current executive management team.
Mr. John Miniotis has been
appointed as the President and Chief Executive Officer,
David O'Connor has been appointed as
Chief Geologist, and Carlos Pinglo
has been appointed as Chief Financial Officer and Corporate
Secretary. The Board of Directors of AbraPlata has been
reconstituted and now consists of the following six directors:
- Robert Bruggeman (Non-Executive
Chairman)
- Hernan Zaballa
- John DeCooman
- Jens Mayer
- Sam Leung
- Flora Wood
John Miniotis, the incoming CEO
of AbraPlata, commented: "We are very excited to have completed the
business combination of Aethon and AbraPlata. The combined
entity represents a unique, advanced-stage exploration company with
a mineral project portfolio that offers compelling upside
potential. The merged company's team has extensive experience
with the exploration of epithermal and porphyry deposits, strong
relationships in Argentina, and
strong background in corporate development and M&A. Our
immediate focus will be on advancing the Diablillos project, which
has a large Indicated silver and gold resource and the potential
for high grade resource expansion, which is currently being drill
tested. As the new CEO of the merged company, I am excited
about our project portfolio and working with the team from
AbraPlata."
Passing of Director Eduardo
Perlicz
AbraPlata also announces, with great sadness, the death of
long-standing independent director Eduardo
Perlicz. Hernan
Zaballa, former Chairman of AbraPlata, stated: "While we
celebrate the merger with Aethon, this is a very sad time for us in
light of the passing of our colleague and friend, Eduardo Perlicz. Eduardo has left his
indelible imprint on AbraPlata and his legacy will live on in the
company as it enters this exciting new chapter." On behalf of
our board of directors, management and employees, we extend our
deepest sympathies to the Perlicz family.
About Aethon Minerals
Aethon Minerals is a mineral
exploration company focused on creating shareholder value. Aethon
has a large prospective land position along prolific mining belts
located in northern Chile. Aethon
believes it is uniquely positioned for growth and is actively
pursuing selective exploration-stage growth
opportunities.
About AbraPlata
AbraPlata is focused on exploring and
advancing its flagship Diablillos silver-gold property. In
addition, AbraPlata owns the highly prospective Cerro Amarillo
property with its cluster of five mineralized Cu-(Mo-Au) porphyry
intrusions located in a mining camp hosting the behemoth El
Teniente, Los Bronces, and Los Pelambres porphyry Cu-Mo deposits.
As well, AbraPlata is advancing Aguas Perdidas, its wholly owned
Patagonia-style epithermal Au-Ag property. AbraPlata is based in
Vancouver, Canada, and is listed
on the TSX-V under the symbol "ABRA".
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Except for statements of historical fact relating to Aethon
Minerals Corporation or AbraPlata Resource Corp., certain
information contained herein constitutes "forward-looking
statements" as such term is used in applicable Canadian securities
laws. Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or
conditions, or include words such as "expects", "anticipates",
"plans", "believes", "considers", "intends", "targets", or negative
versions thereof and other similar expressions, or future or
conditional verbs such as "may", "will", "should", "would" and
"could" in particular, statements related to the delisting of the
common shares of Aethon from the TSX-V and Aethon ceasing to be a
reporting issuer,. We provide forward-looking statements for the
purpose of conveying information about our current expectations and
plans relating to the future and readers are cautioned that such
statements may not be appropriate for other purposes. By its
nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved.
SOURCE Aethon Minerals
