Americore Resources Corp. Issues Correction Regarding Nevada Mineral Claim Acquisition
Rhea-AI Summary
Americore Resources (OTCQB: AMCOF) issued a correction on November 27, 2025 clarifying that its Nevada mineral claim acquisition from Nevada Hills Gold LLC is an arm's-length transaction, not non-arm's-length as previously misstated.
The transaction remains under the amended commercial terms: US$100,000 cash + 250,000 common shares on Exchange approval, a second US$100,000 + 250,000 shares 15 months after approval, and a retained 0.5% NSR royalty with a potential future NSR buy-back. No finders' fees apply and issued securities are subject to a four-month statutory hold.
Americore said the prior reference was an administrative error and that internal disclosure controls have been reviewed to prevent recurrence.
Positive
- Transaction structured with defined cash and equity: US$200,000 + 500,000 shares total
- Vendor retains only a 0.5% NSR royalty, limiting ongoing burden
- No finder's fees payable, preserving deal economics for shareholders
Negative
- Initial disclosure error signals weakness in internal disclosure controls
- Second cash/share tranche deferred 15 months, extending dilution timing
Vancouver, British Columbia--(Newsfile Corp. - November 27, 2025) - Americore Resources Corp. (TSXV: AMCO) (FSE: 5GP0) (OTCQB: AMCOF) ("Americore" or the "Company") announces that it is issuing a correction to its news release dated November 27, 2025, in which the Company incorrectly stated that its acquisition transaction with Nevada Hills Gold LLC (the "Vendor") constituted a Non-Arm's Length transaction.
The Company confirms that the transaction is in fact an Arm's Length transaction, as defined under the policies of the TSX Venture Exchange (the "Exchange"). The prior disclosure referencing the transaction as Non-Arm's Length was included in error and the result of an administrative oversight during the preparation of the original release.
Americore wishes to clarify that:
The Company and the Vendor do not share common directors, officers, control persons, or other insider relationships that would cause the transaction to be considered Non-Arm's Length under Exchange policies.
The transaction remains structured under the previously announced amended commercial terms, including:
- US
$100,000 cash and 250,000 common shares, issued on Exchange approval of the transaction; - US
$100,000 cash and 250,000 common shares, issued 15 months following Exchange approval; - A
0.5% NSR royalty retained by the Vendor on future production; - The potential for an NSR buy-back right to be negotiated in the future, subject to Exchange policies.
No finder's fees are payable in connection with this transaction, and all securities issued will remain subject to a statutory four-month hold period in accordance with applicable securities laws and Exchange policies.
Apart from the correction to the nature of the transaction, all other information and material commercial terms disclosed in the original and amended press releases remain unchanged. Americore regrets the error and confirms that internal disclosure controls have been reviewed to prevent similar administrative inaccuracies in the future.
CONTACT
Jeff Poloni
Chief Executive Officer
Email: jeff@americoreresources.com
Phone: 604-454-8874
The Company is listed on the TSX Venture Exchange.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding AMERICORE's intention to continue to identify potential transactions and make certain corporate changes and applications. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits AMERICORE will obtain from them. These forward-looking statements reflect managements' current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including AMERICORE's inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that AMERICORE does acquire. These forward-looking statements are made as of the date of this news release and AMERICORE assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276205
FAQ
What did Americore (AMCOF) correct on November 27, 2025 about the Nevada acquisition?
What are the payment terms of Americore's Nevada claim acquisition (AMCOF)?
What royalty did Americore agree to on the Nevada property (AMCOF)?
Will shares issued in the Americore (AMCOF) acquisition be restricted?
Does the Americore (AMCOF) correction change the commercial terms of the acquisition?
Did Americore (AMCOF) pay any finder's fees for the Nevada acquisition?
