Minaurum Gold Inc. ("Minaurum") is pleased to announce that further to its News Releases dated December 20, 2013 and December 27, 2013, it will increase the size of its non-brokered private placement to a total of 26,000,000 units to raise gross proceeds of $1.3 million.
Each $0.05 Unit will be comprised of one common share and one common share purchase warrant ("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 C$0.05. 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 December 31, 2014, in the event that the common shares of Minaurum have closed at or above $0.20 for fifteen (15) consecutive trading days.
The funds raised by way of the private placement will be used for exploration and drill permitting at its Vuelcos del Destino project in the Guerrero Gold Belt as well as for working capital purposes.
The private placement is subject to TSX Venture Exchange approval. Finder's fees may be payable with respect to portions of the private placement, in accordance with Exchange policies.
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 (http://www.minaurum.com/s/VideoGallery.asp).
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 email@example.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release 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. 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. 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.