VANCOUVER, Dec. 20, 2019 /CNW/ - This press release is
issued by AbraPlata Resource Corp. ("AbraPlata") pursuant to
the early warning requirements of National Instrument 62-103 with
respect to the common shares of Aethon Minerals Corp. (the
"Issuer").
On December 19, 2019, AbraPlata
acquired ownership and control of 27,633,333 common shares of the
Issuer ("Common Shares"), representing 100% of the issued
and outstanding Common Shares as of the date hereof. The
acquisition was made by way of a court-approved plan of arrangement
under the Canada Business Corporations Act (the
"Arrangement") pursuant to an Arrangement Agreement between
AbraPlata and the Issuer dated September 11,
2019, as amended October 15,
2019.
Pursuant to the Arrangement, each shareholder of the Issuer
received 3.75 AbraPlata common shares for each issued and
outstanding Common Share. This implies consideration of
C$0.248 per Common Share or aggregate
consideration of $6,853,066.58, based
on the 10-day volume weighted average price of an AbraPlata common
share on the TSX Venture Exchange as of July
26, 2019 (the last trading day prior to the announcement of
the non-binding letter of intent between the Issuer and AbraPlata
that preceded the Arrangement Agreement).
Prior to the completion of the Arrangement, AbraPlata did not
own or control any Common Shares of the Issuer. As a result of the
implementation of the Arrangement, AbraPlata now owns 27,633,333
Common Shares, representing 100% of the issued and outstanding
Common Shares. The purpose of the Arrangement was for AbraPlata to
acquire all of the issued and outstanding Common Shares and thereby
combine the Issuer's assets and business with the business and
assets of AbraPlata.
The Common Shares of the Issuer are being delisted from the TSX
Venture Exchange and AbraPlata intends to cause the Issuer to apply
to cease to be a reporting issuer.
A copy of the early warning report filed by AbraPlata pursuant
to National Instrument 62-103 in connection with completion of the
Arrangement is available under the Issuer's profile on SEDAR
(www.sedar.com).
SOURCE AbraPlata Resource Corp.