The following information is being disclosed for the purposes of Rule 26 of the AIM Rules for Companies.
This information was last updated on 24 July 2020.
Description of Business
AEX Gold Inc. (“AEX” or the “Company”) is an independent gold mining company engaged in the identification, acquisition, exploration and development of gold properties in Greenland. The Company’s strategy is to leverage its first mover advantage in Greenland, underpinned by the previously producing Nalunaq asset, to build a full-cycle gold mining company in Greenland, delivering shareholder value and providing significant upside potential through its land bank of high-impact exploration assets.
AEX is committed to operating to the highest international standards and to leading responsible mining in Greenland.
Country of Incorporation and Main Country of Operation
AEX is incorporated and registered in Canada under the Canadian Business Corporations Act, with company number 1011468-5
The Company’s gold assets are located in Southern Greenland.
Details of any other Exchanges or Trading Platforms
AEX is listed on the following stock exchanges:
TSX Venture Exchange (“TSX-V”): AEX
Number of Securities in Issue
As at 31 July 2020, the Company’s issued share capital consist of 177,098,737 Common Shares with no par value. The Company has no Treasury Shares.
The percentage of AIM securities that is not in public hands is 9.6%.
Details of any Restriction of the Transfer of Securities
There are no restrictions on the AIM securities.
1,844,247 common shares issued to Canadian investors and to the officers and directors of the Company are subject to a 4 month and 1 day hold period which will expire on December 1, 2020.
10,200,450 shares issued to US investors are subject to restrictions on transfer which provide that such shares may not be offered, sold, pledged or otherwise transferred except pursuant to a registration statement or an exemption from registration under the U.S. Securities Act of 1933.
Admission Documents and Circulars
The Names of the Directors and Biographical Details
Board Committees and Responsibilities
Rights of Shareholders
As the Company is incorporated in Canada, shareholders’ rights may be different to rights of shareholders in a UK incorporated company.
UK City Code on Takeovers and Mergers
The Company is incorporated in Canada, and, accordingly, transactions in Common Shares in the Company will not be subject to the UK Takeover Code. As a result, Shareholders will not be afforded the protections of the UK Takeover Code. However, Canadian laws applicable to the Company provide for early warning disclosure requirements in relation to potential takeover bids, further details of which are set out in Section 18 of Part 1 of the Company’s AIM Admission Document dated 27 July 2020.