AuRo Closes $2.5 Million Private Placement
March 03 2011 - 12:27PM
Marketwired
Further to receipt of TSX Venture Exchange acceptance, AuRo
Resources Corp. (the "Company") (TSX VENTURE: ARU) announces it has
closed its non-brokered private placement by issuing 16,922,416
Units at a price of $0.15 per Unit for gross proceeds of $2,538,624
(see press releases dated February 16 and 23, 2011). 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.
Finder's fees were paid in the form of $208,926 in cash and
1,197,753 finders' warrants issued to Union Securities Ltd., Mackie
Research Capital Corporation, Canaccord Genuity Corp., Haywood
Securities Inc. and Opus 3 Inc. for the portion of the financing
attributable to such finders. Each finder's warrant entitles the
holder to acquire one common share at $0.30 for a two year
period.
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.
All of the securities issued pursuant to this offering are
restricted from trading until July 2, 2011.
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 www.auroresources.com
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