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White Rock Minerals Ltd (WRM.AX) Merger of AuStar Gold and White Rock Implemented
Ballarat, Australia, Aug 24, 2021 - (ABN Newswire) - AuStar Gold Limited (ASX:AUL) and White Rock Minerals Ltd (ASX:WRM) (OTCMKTS:WRMCF) are pleased to announce that the share scheme of arrangement (Share Scheme) and option scheme of arrangement (Option Scheme) (together, the Schemes) for the merger of AuStar Gold and White Rock have today been implemented.
Consideration for the Schemes
All AuStar Gold shares have today been transferred to White Rock and all AuStar Gold listed options have been cancelled.
Eligible AuStar Gold shareholders have been issued consideration of 0.78 new shares in White Rock for every 1 AuStar Gold share held at 7.00pm (AEST) on Monday 16 August 2021 (Record Date).
Eligible AuStar Gold listed optionholders have been issued consideration of 1 new White Rock option exercisable at $0.77 and otherwise on substantially the same terms as the terms of the AuStar Gold listed options, for every 1 AuStar Gold listed option held at the Record Date.
Trading in AuStar Gold shares and listed options on the ASX was suspended from the close of trading on Thursday, 12 August 2021. An application will be made to remove AuStar Gold from the official list of ASX, which is expected to take effect on and from 24 August 2021.
About White Rock Minerals Ltd:
White Rock Minerals Ltd (ASX:WRM) (OTCMKTS:WRMCF) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 609g/t AgEq / 13% ZnEq. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve.
Matthew Gill or Shane Turner
White Rock Minerals Ltd
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