Vancouver, BC - Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) announces that it completed a non-brokered placement offering (the “Offering”) of 9,800,000 flow-through shares (“Flow-Through Shares”) at a price of $0.05 per Flow-Through Share and 6,750,000 common share units (“Common Share Units”) at a price of $0.05 per Common Share Unit for aggregate gross proceeds of $827,500.
Each Common Share Unit consists of one common share of the Company (a “Common Share”) and one-common share warrant (“Common Share Warrant”), with each warrant entitling the holder thereof to acquire one Common Share at a price of $0.06 per Common Share for a period of two years following the closing of the Offering.
The Issuer intends to use the gross proceeds from the issuance of Flow-Through Shares to incur Canadian exploration expenses on the Company’s Mikwam Property, which will qualify as eligible flow-through expenditures for purposes of the Income Tax Act (Canada). The net proceeds from the issuance of the Common Share Units will be used for general corporate purposes.
The Company has paid a cash commission of 7% and issued 7% broker warrants in the aggregate of $7,000 and 189,000 broker warrants in connection with certain subscriptions. Each broker warrant will entitle the holder to acquire an additional common share at a price of $0.06 per share for a period of two years following the closing date.
The Company is scheduled to complete two further private placements of Common Share Units early next week to raise a further $37,500 through the issuance of 750,000 additional Units on April 1, 2019 increasing the total aggregate gross proceeds to $865,000.
Further Flow-Through Shares and Common Share Units may be issued on the same terms on or before April 26, 2019. Including the completed financing and possible future issuances, a maximum of 20 million Common Shares may be issued, assuming a maximum gross proceeds of $1,000,000 is raised and excluding Common Shares issuable on exercise of broker warrants.
The Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange.
The securities issued in connection with the offering are subject to a standard four month hold period expiring July 29, 2019. Any securities that may be issued under subsequent tranches will also be subject to a standard four month hold period from the date of issue.
Certain directors and officers of the Company participated in the Offering by acquiring an aggregate of 750,000 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).
Aurelius is a well-positioned gold exploration company focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world’s most prolific mining districts; the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend. In 2018, Ontario converted its manual system of ground and paper staking and maintaining unpatented mining claims to an online system. All active, unpatented claims were converted from their legally defined location to a cell-based provincial grid. The Mikwam Property is comprised of 9 legacy claims consisting of 69 Cell Claims including 29 Single Cell Mining Claims (“SCMC’s”) and 40 Boundary Cell Mining Claims (“BCMC’s”). The Lipton Property is now comprised of 57 legacy claims consisting of 721 Cell Claims, 563 SCMC’s, 143 BCMC’s, and 30 “internal” and overlapping (i.e., two occupying the same space) BCMC’s. 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.
On Behalf of the Board
AURELIUS MINERALS INC.
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Aurelius Minerals Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Aurelius within the meaning of applicable securities laws, including statements with respect, to the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. Possible future financing may not be completed. These risks and uncertainties include but are not limited to those identified and reported in Aurelius’ public filings under Aurelius Minerals Inc.’s SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.