Auxico Resources Canada Inc (CSE:AUAG, OTCQB:AUXIF) said its joint venture partner Central America Nickel (CAN) has acquired 7 million shares and 3 million warrants with a strike price of C$0.15 for three years in the capital of Auxico.
A long-term investor, CAN has acquired these shares due to the strategic importance and substantial quality of rare earth and other critical minerals at Auxico’s highly-prospective Colombian and Brazilian projects, Auxico said in a statement.
Inclusive of this transaction, CAN holds 7,550,000 shares and 4,275,000 warrants in Auxico.
Auxico CEO Pierre Gauthier retains a meaningful stake of five million shares of the company, it noted.
Shares of the company rose on the news, up 9.1% at C$0.18 at noon on Tuesday.
Auxico Resources Canada is engaged in the acquisition, exploration, and development of mineral properties in Colombia, Brazil, Mexico and the Democratic Republic of the Congo.
- Updated with share price movement -
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