Aurora Issues Directors' Circular
February 06 2009 - 8:42AM
Marketwired
Aurora Energy Resources Inc. ("Aurora" or the "Company") (TSX: AXU)
announced today that it has issued a Directors' Circular from its
Board of Directors in response to the offer (the "Fronteer Offer")
by Fronteer Development Group Inc. ("Fronteer") to acquire all of
the common shares of Aurora that it does not already own on the
basis of 0.825 of a Fronteer common share for each Aurora common
share. The Directors' Circular is being mailed to shareholders and
will be available on www.sedar.com.
The Special Committee of the Aurora Board of Directors has
retained National Bank Financial Inc. as its financial advisor to
advise it with respect to the Fronteer Offer and to solicit other
offers for Aurora or its assets or other transactions involving
Aurora that would provide greater value to shareholders than the
Fronteer Offer. The Special Committee is currently in discussions
with third parties with respect to possible alternative offers or
transactions, although there can be no assurance that any such
alternative offer or transaction will emerge.
The Board of Directors is making no recommendation with respect
to the Fronteer Offer at this time and advises that Aurora
Shareholders wait for further communication from the Board of
Directors prior to deciding whether or not to tender their Aurora
shares to the Fronteer Offer.
There is no immediate urgency for Aurora shareholders to do
anything with respect to the Fronteer Offer. The Fronteer Offer is
open for acceptance until 8:00 p.m. (Eastern Standard Time) on
March 2, 2009, unless extended or withdrawn. The Fronteer Offer is
subject to certain conditions. The Aurora Board of Directors will
communicate further with shareholders prior to the expiry of the
Fronteer Offer so that Aurora shareholders will have updated
information in deciding whether or not to tender to the Fronteer
Offer.
ABOUT AURORA
Aurora is a uranium exploration and development company active
in the Central Mineral Belt of coastal Labrador - one of the
world's most promising uranium districts - and in Nunavut, Canada,
where it has acquired an interest in the Baker Lake Basin
property.
Aurora has no debt and approximately C$98 million in cash that
is fully liquid and held with a large Canadian commercial bank.
Aurora is committed to responsible development, which includes
community consultation, lasting local benefits and the highest
standards of safety, health, and environmental protection.
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
statements". Such forward-looking statements, including but not
limited to the Fronteer Offer, any possible alternative
transaction, the timing and level of exploration activities,
including drilling activities, the timing of completion of a
pre-feasibility study and anticipated results of the 2008 work
program; involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievement of Aurora to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others,
risks related to the Fronteer Offer not being completed, the terms
of the Fronteer Offer, the lack of any alternative transaction, the
terms of any alternative transaction, the actual results of current
exploration activities, conclusions of economic evaluations,
uncertainty in the estimation of mineral resources, changes in
project parameters as plans continue to be refined, future prices
of uranium, economic and political stability in Canada,
environmental risks and hazards, increased infrastructure and/or
operating costs, labour and employment matters, and government
regulation as well as those factors discussed in the section
entitled "Risk Factors" in Aurora's Annual Information Form on file
with the Canadian Securities Commissions. Although Aurora has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Aurora disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law. Accordingly, readers should not place
undue reliance on forward-looking statements.
Contacts: Aurora Energy Resources Inc. Bruce Dumville President
& CEO (709) 726-2223 Website: www.aurora-energy.ca
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