Aurelius Resources Closes $3.1 Million Brokered Placement
TSX VENTURE: AUL
VANCOUVER, British Columbia, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Aurelius Minerals Inc. (TSX.V:AUL) (the “Company” or “Aurelius”) announces that it has closed its previously announced brokered private placement co-lead by Sprott Capital Partners L.P. and Clarus Securities Inc. (the “Agents”), for total gross proceeds of $3,153,243 from the sale of 20,200,000 common share units (“Common Share Units”) at a price of $0.08 per Common Share Unit and 17,080,478 flow-through share units (“Flow-Through Share Units”) at a price of $0.09 per flow-through share unit. The Common Share Units and the Flow-Through Share Units are collectively referred to herein as the “Offering”.
Each Common Share Unit consists of one common share of the Company (a “Common Share”) and one common share warrant (“Warrant”). Each Flow-Through Share Unit consists of one flow-through share of the Company (“flow-through share”) and one Warrant. Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.16 per Common Share for a period of five (5) years following the closing of the Offering.
In connection with closing, the Company paid the Agents and an arm’s length finder aggregate cash commissions totaling $157,662 and issued an aggregate of 2,982,438 non-transferable compensation options, with each compensation option exercisable to acquire one Common Share Unit at a price of $0.08 for a period of five years.
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.
The securities issued in connection with the offering are subject to a standard four month hold period expiring April 22, 2018.
Certain directors and officers of the Company participated in the Offering by acquiring an aggregate of 711,000 Flow-Through Share Units and 225,000 Common Share Units.
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.
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.