AbraPlata Resource Corp. - Press Release

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.

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