West Perth-based metals explorer Azure Minerals Ltd has announced plans to list on the Toronto Stock Exchange, as well as offering shares to Canadian investors, the company has announced.
West Perth-based metals explorer Azure Minerals Ltd has announced plans to list on the Toronto Stock Exchange, as well as offering shares to Canadian investors, the company has announced.
The full text of a company announcement is pasted below
Azure Minerals Ltd (ASX code: AZS) is pleased to announce that the Company intends to apply to list Azure's ordinary shares on the Toronto Stock Exchange (TSX).
Listing on the TSX will be subject to Azure meeting all necessary regulatory requirements and conditions. Azure will continue to be based in Australia and maintain its listing on the ASX.
Azure has appointed Canadian investment banking group Versant Partners Inc. of Toronto to assist in the listing process, which will be undertaken in conjunction with a proposed Canadian public offering of ordinary shares.
Azure Executive Chairman, Mr Tony Rovira, said that the listing on the TSX will be an important milestone in the development of the Company and its Mexican projects.
"The strong level of interest in Azure from North America demonstrates that listing on the TSX would be a natural progression for Azure and would fit well with our Mexican focused strategy" said Mr Rovira.
"Importantly, Mexico is in 'the backyard' for North American investors. They have a strong appreciation for the opportunities in the region and for companies who operate there. Listing on the TSX is expected to allow us to more readily access this international interest to continue to pursue our intensive exploration and project acquisition programs in Mexico," he said.
"Our peers and competitors in Mexico are mostly Canadian or US based explorers. Azure has a natural advantage over these fly in and fly out explorers with our fully staffed exploration office in Hermosillo, the capital of Sonora State in Mexico. Being on the ground full time in Mexico is affording us opportunities to acquire projects we would not otherwise see."
The TSX Group is number one in the world for public mining companies, offering access to a wide pool of development capital.
Further updates will be provided as the listing and fund-raising process advances. In particular, Azure expects that it will convene a meeting of shareholders in November at which it will seek advance approval for the issuance of securities in connection with the proposed fund-raising. Further details regarding the proposed shareholders meeting are expected to be announced shortly.
