AuRo Resources Increases Private Placement to $2.5 Million
February 23 2011 - 4:27PM
Marketwired
AuRo Resources Corp. (the "Company") (TSX VENTURE: ARU) announces
that it is increasing the size of its non-brokered private
placement (previously announced February 16, 2011) to up to
16,730,000 Units at a price of $0.15 per Unit, for gross proceeds
of up to $2.5 Million. Each unit is comprised of one common share
of the Company and one-half of one transferable common share
purchase warrant, each whole warrant exercisable for a period of
two years from the date of issue to purchase one common share of
the Company at a price of $0.30 per share.
In addition to working capital, the net proceeds of the private
placement will be used for the Company's exploration activities in
Colombia and AuRo's ongoing review of potential property
transactions.
The private placement is subject to TSX Venture Exchange (the
"Exchange") acceptance and required regulatory approvals. All of
the securities issued pursuant to this offering will have a hold
period expiring four months after the closing date.
A finder's fee will apply in this transaction in accordance with
the policies of the Exchange.
ON BEHALF OF THE BOARD
Mark Lawson, President & CEO
Neither the 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.
Contacts: AuRo Resources Corp. Jeremy Ross Corporate Development
604-893-8838 AuRo Resources Corp. Tyler Ross Corporate Development
604-893-8838 604-681-0796 (FAX) AuRo Resources Corp. Mark Lawson
President & CEO 416-623-0565 AuRo Resources Corp. Andreas
Curkovic Investor Relations 416-577-9927 www.auroresources.com
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