December 4, 2017
Aurelius Announces $2.5 Million Financing
Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) announces that it has entered into an agreement with Sprott Capital Partners to act as lead agent (the “Lead Agent”) on behalf of a syndicate of agents (together, the “Agents”) to complete a brokered placement offering (the “Offering”) to sell common share units (“Common Share Units”) at a price of $0.08 per Common Share Unit and flow-through share units (“Flow-Through Share Units”) at a price of $0.09 per Flow-Through Share Unit, for aggregate gross proceeds of up to $2.5 million.
Each Common Share Unit shall consist of one common share of the Company (a “Common Share”) and one common share warrant (“Common Share Warrant”). Each Flow-Through Share Unit shall consist of one flow-through share of the Company and one Common Share Warrant. Each Common Share Warrant entitles the holder thereof to acquire one Common Share at a price of $0.16 per Common Share for a period of five (5) years following the closing of the Offering (the “Common Share Warrant Expiry Date”).
A maximum of 31.25 million units are issuable under the Offering, which assumes that the maximum gross proceeds are raised through the issuance of Common Share Units only.
In connection with the Offering, the Company shall pay to the Agents, a cash fee equal to 5.0% of the gross proceeds of the Offering. As additional consideration for the services of the Agents, the Company agrees to grant to the Agents compensation options entitling the Agents to subscribe for that number of Units equal to 8.0% of the aggregate number of Offered Securities sold under the Offering (at the respective Flow-Through Units and Unit prices).
The net proceeds from the Offering will be used by the Company for the upcoming field programs and general working capital purposes. Upcoming field programs are expected to follow-up on several target areas warranting additional exploration in the Abitibi Gold belt and to include detailed geochemical sampling, ground geophysical surveying and drilling.
Closing of the Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The securities issued will be subject to a standard four month hold period.
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will be not be registered under the United States Securities Act of 1933 as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
The Company and its board of directors also wish to announce that Mr. Harry Chan, CPA, CGA has been appointed Chief Financial Officer of the Company. Mr. Chan is a chartered professional accountant with over 20 years’ experience in corporate transactions, public markets and in-depth accounting and auditing, working in several different industries ranging from mineral exploration, development, public practice, sports entertainment, wholesale distribution and telecommunications. The Company thank Ms. Neale, the former CFO, who is leaving the Company to pursue other endeavors.
Aurelius is a premier gold exploration company, holding the Mikwam and Lipton Properties within the prolific northern Abitibi Gold belt in Ontario, Canada. The company has a sound management team with experience in all facets of the mineral exploration and mining industry who will be considering additional acquisitions of advanced staged opportunities in the Abitibi and other proven mining districts.
AURELIUS MINERALS INC.
“Mark N.J. Ashcroft”
Mark N. J. Ashcroft, President & CEO
For further information please contact:
Aurelius Minerals Inc.
Mark N.J. Ashcroft, President & CEO
Tel.: (604) 687-3959
Renmark Financial Communications Inc.
Robert Thaemlitz, Account Manager
Tel.: (416) 644-2020 or (514) 939-3989
Neither 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.