Minaurum Gold Closes Non Brokered Private Placement
Minaurum Gold Inc. (“Minaurum”) is pleased to announce that it has closed a non-brokered private placement financing of 6,850,000 units at a price of $0.05 per unit for gross proceeds of $342,500. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share of Minaurum for a period of two (2) years at an exercise price of $0.10. No finders’ fee was paid in connection with the financing. The securities issued under the offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.
The Warrants are subject to an acceleration clause providing that the Warrants will be exercisable within 30 days of receipt of notice from Minaurum, at any time following one year after the issue date of the Warrants, in the event that the common shares of Minaurum have closed at or above $0.25 for fifteen (15) consecutive trading days.
The funds raised by way of the private placement will be used for working capital purposes.
Minaurum Gold is a gold-copper explorer focused on its Vuelcos del Destino project in the Guerrero Gold Belt, Mexico. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel at (http://www.youtube.com/user/minaurumgold).
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu -- Investor Relations Manager
(778) 330 0994 or via email at firstname.lastname@example.org
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the intended use of proceeds, constitute forward-looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum’ s current beliefs as well as assumptions made by and information currently available to Minaurum, including that the Minaurum is able to obtain any required government or other regulatory approvals, equipment and personell for its planned operations and that actual results of exploration activities will be consistent with management’s expectations. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including actual results of Minaurum’s operations being different than those expected by management and delays in obtaining or failure to obtain required government or other regulatory approvals, equipment, personnel or financing. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and expressly 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.