AZUCAR REPORTS NEWCREST INTENTION TO EXERCISE TOP-UP RIGHTS UNDER INVESTOR RIGHTS AGREEMENT

AzucarMinerals_16102018_nr

VANCOUVER, British Columbia, Oct. 16, 2018 (GLOBE NEWSWIRE) — Azucar Minerals Ltd. (“Azucar” or the “Company”) (TSX-V: AMZ; OTCQX: AXDDF) announces that Newcrest Canada Holdings Inc. (“Newcrest”) has confirmed its intention to exercise its top-up rights pursuant to the Investor Rights Agreement (the “Agreement”) with Azucar. The Agreement was executed on May 18, 2018, when Newcrest completed its acquisition of 19.9% of Azucar common shares for $19,074,425, and provides, among other things, a standstill and lock-up on customary terms and conditions, participation and top-up rights in favour of Newcrest to maintain its pro-rata interest in Azucar, and the right of Newcrest to designate one nominee to the Board of Directors of Azucar.

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