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Rigel Resource Acquisition Corp (RRACF) provides investors with critical updates through this centralized news hub for its SPAC operations and resource sector activities. Access official press releases, merger announcements, and strategic developments from this blank check company focused on identifying high-potential acquisitions.
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Rigel Resource Acquisition Corp (OTCQX: RRACF) announced that the SEC declared effective its Registration Statement for the proposed business combination with Aurous, a gold mining company. The Extraordinary General Meeting is scheduled for February 4, 2025, with shareholders of record as of January 10, 2025 eligible to vote.
The company has secured $27.5 million in PIPE financing, targeting $50 million total. The combined entity will be named Aurous Resources and plans to list on Nasdaq. Aurous reported strong H1 FY2025 performance with revenue of ~$23 million (5% YoY increase) and operating profit of $2.1 million (59% YoY increase). The company sold 10,888 oz of gold with 93,513 tonnes milled at 3.64 g/t recovery grade.
Three independent non-executive directors will join post-merger: Hennie van Greuning, Christine Coignard, and Stephen Hayes, bringing extensive financial, mining, and international business expertise.
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