VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 16, 2017) - Aurelius Minerals Inc. (TSX VENTURE:AUL) (the "Company" or "Aurelius") announces that it intends to complete a non-brokered placement offering (the "Offering") to sell common share units ("Common Share Units") at a price of $0.10 per Common Share Unit and flow-through shares ("Flow-Through Shares") at a price of $0.14 per Flow-Through Share, for aggregate gross proceeds of up to $2.0 million.
Each Common Share Unit shall consist of one common share of the Company (a "Common Share") and one-half of one common share warrant ("Common Share Warrant"), with each whole warrant entitling the holder thereof to acquire one Common Share at a price of $0.15 per Common Share for a period of twenty-four (24) months following the closing of the Offering (the "Common Share Warrant Expiry Date"). However, in the event the Common Shares trade at a closing price on the TSX-V of greater than $0.25 per Common Share during any twenty (20) consecutive trading-day period at any time after the expiry of the four month hold period, the Company may accelerate the Common Share Warrant Expiry Date by giving notice to the holders thereof and in such case the Common Share Warrants will expire on the twenty-first (21) business day after the date on which such notice given to the holders by the Company.
A maximum of 20 million units are issuable under the Offering, which assumes that the maximum gross proceeds are raised through the issuance of Common Share Units only.
A finder's fee may be payable in connection with certain subscriptions.
The net proceeds from the Offering will be used by the Company for the upcoming field programs and general working capital purposes. Upcoming field programs are expected to follow-up on several target areas warranting additional exploration in the Abitibi Gold belt and to include detailed geochemical sampling, ground geophysical surveying and drilling.
Closing of the Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The securities issued will be subject to a standard four month hold period.
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will be not be registered under the United States Securities Act of 1933 as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
About Aurelius
Aurelius is a premier gold exploration company, holding the Mikwam and Lipton Properties within the prolific northern Abitibi Gold belt in Ontario, Canada. The company has a sound management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in the Abitibi and other proven mining districts.
