White Rock Minerals Ltd: Schemes for Merger with AuStar Gold Become Effective

Ballarat, Australia - AuStar Gold Ltd. (ASX:AUL) and White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) are pleased to announce that AuStar Gold has today lodged with the Australian Securities and Investments Commission (ASIC) a copy of the orders of the Federal Court of Australia (Orders) approving the share scheme of arrangement (Share Scheme) and option scheme of arrangement (Option Scheme) (together, the Schemes) for the merger of AuStar Gold and White Rock (Merger). As a result, the Schemes are now legally effective.


Suspension of Trading

AuStar Gold will now apply for its shares and listed options to be suspended from trading on the ASX at the close of trading today, Thursday, 12 August 2021.


Scheme Consideration

AuStar Gold shareholders who hold AuStar Gold shares at the Record Date, being 7.00pm (AEST) on Monday, 16 August 2021 (Record Date), will receive consideration of 0.78 new shares in White Rock for every 1 AuStar Gold share held at the Record Date.

AuStar Gold listed optionholders who hold AuStar Gold listed options at the Record Date, will receive consideration of 1 new option in White Rock exercisable at $0.77 and otherwise on substantially the same terms as the terms of the AuStar Gold listed options, for every 1 AuStar Gold listed option held at the Record Date.

It is expected that the Schemes will be implemented and the consideration for the Schemes issued by White Rock on Monday, 23 August 2021.

To view the timetable, please visit: https://abnnewswire.net/lnk/HG32VQ79


About White Rock Minerals Ltd:

White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 609g/t AgEq / 13% ZnEq. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve.

Source: White Rock Minerals Ltd.



Contact:

Matthew Gill or Shane Turner
Phone: +61-3-5331-4644
Email: info@whiterockminerals.com.au
www.whiterockminerals.com.au