TORONTO, Sept. 18, 2015 /CNW/ – AuRico Metals Inc. (TSX: AMI), (“AuRico” or the “Company”) is pleased to announce the closing of the previously announced acquisition of Mineral Streams Inc. (“Mineral Streams”), a private company owning a 0.25% NSR royalty on the Williams mine at Barrick Gold Corporation’s (“Barrick”) Hemlo complex, a 0.5% NSR royalty on Wesdome Gold Mines Ltd.’s Eagle River mine, and a 1.5% NSR royalty on Barrick’s David Bell property, which also forms part of the Hemlo complex.

Upon closing, all of the issued and outstanding shares of Mineral Streams were acquired in exchange for 4,753,950 shares of AuRico and C$3,425,000 in cash. The assets acquired from Mineral Streams include positive working capital of approximately C$1 million and the acquired royalties are anticipated to generate approximately C$1 million per year in royalty income assuming current metal prices and assuming production levels consistent with recent performance at the underlying operations.   

Following completion of the acquisition, the Company has 130,873,950 shares issued and outstanding listed on the Toronto Stock Exchange.

About AuRico Metals

AuRico Metals is a mining royalty and development company whose royalty assets include a 1.5% NSR on the Young-Davidson Gold Mine, a 0.25% NSR on the Williams mine at Hemlo, and a 0.5% NSR on the Eagle River mine – all located in Ontario, Canada. AuRico Metals also has a 2% NSR on the Fosterville Mine, located in Victoria, Australia, and 100% ownership of the advanced Kemess Project in British Columbia, Canada. AuRico Metals’ goal is to deliver sustained value creation for the company’s many stakeholders. AuRico Metals’ head office is located in Toronto, Ontario, Canada.