Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 6

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 6
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 sections of the Exchange Act regulating the solicitation of proxies, consents, or authorizations in respect of a security registered under the Exchange Act;  

  the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a short peri...  

  the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing unaudited financial and other specified information, or current reports on Form 8...  
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We may take advantage of these exemptions (or voluntarily comply with the requirements applicable to U. S. domestic public companies) until such time as we are no longer a foreign private issuer. We would cease to be a foreign private issuer at such time as more than 50% of our outstanding voting securities are held by U. S. residents and any of the following three circumstances applies: (i) the majority of our executive officers or directors are U. S. citizens or residents; (ii) more than 50% of our assets are located in the USA; or (iii) our business is administered principally in the USA.

If we fail to maintain our foreign private issuer status and decide, or are required, to register as a U. S. domestic issuer, the regulatory and compliance costs to us will be significantly more than the costs incurred as a foreign private issuer. In such event, we would not be eligible to use foreign issuer forms and would be required to file periodic and current reports and registration statements on U. S. domestic issuer forms with the SEC, which are generally more detailed and extensive than the forms available to a foreign private issuer.

Table of Contents

It may be difficult to enforce judgments or bring actions outside the U. S. against us and certain of our directors.

We are a Canadian corporation and certain of our officers and directors are neither citizens nor residents of the USA. A substantial part of the assets of several of these persons are located outside the USA. As a result, it may be difficult or impossible for an investor:

  to enforce in courts outside the U. S. judgments obtained in U. S. courts based upon the civil liability provisions of U. S. federal securities laws against these persons and us; or  

  to bring in courts outside the U. S. an original action to enforce liabilities based upon U. S. federal