Scottie Resources Corp. (TSXV:SCOT) entered into a letter of interest to acquire AUX Resources Corporation (TSXV:AUX) for CAD 10.6 million on April 7, 2021. Scottie Resources Corp. entered into an agreement to acquire AUX Resources Corporation on May 4, 2021. Warrants and options of AUX will be adjusted or exchanged into warrants and options, respectively, of Scottie and Scottie will acquire all of the issued and outstanding common shares of AUX on the basis of one common share of Scottie for each common share of AUX held. Upon completion of the Transaction, it is expected that the shareholders of AUX will hold approximately 31% of Scottie's issued and outstanding shares.

Upon completion, Bradley Rourke and Thomas Mumford will be the first directors of AUX. The Transaction is subject to a number of conditions being satisfied or waived by one or both of Scottie and AUX, including concluding a definitive agreement, the receipt of AUX shareholder approval, together with any requisite minority approvals and the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and the listing of the Scottie Shares issuable to AUX Shareholders. The Board of Directors of Scottie and AUX have approved the transaction. AUX shareholders will hold a meeting to approve the transaction in July 2021. After all conditions have been met, it is expected that the Transaction would close shortly thereafter. As of July 8, AUX Shareholders approved the business combination. AUX received approval from the TSX Venture Exchange to proceed with closing of the transaction. The AUX shares are expected to be de-listed from the TSXV following the close of the markets on July 14, 2021. AUX and Scottie anticipate that the Transaction will be completed on July 16, 2021.

Scottie Resources Corp. (TSXV:SCOT) completed the acquisition of AUX Resources Corporation (TSXV:AUX) on July 16, 2021. AUX will continue as a wholly-owned subsidiary of Scottie. Upon closing of the transaction, all directors and officers of AUX resigned. Bradley Rourke, the President, CEO and a Director of Scottie, and Thomas Mumford, the VP Exploration of Scottie, will serve as directors of AUX. AUX Shares would be delisted from the TSX Venture Exchange on July 19, 2021. The Scottie Shares will continue to trade on the TSXV under the symbol “SCOT”