Vancouver, British Columbia – Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) reports it has closed the non-brokered private placement announced on July 5, 2019. Further to the first tranche that closed August 22, 2019, the Company has completed a second tranche whereby 2,600,000 Units at a price of $0.05 per Unit (the “Units”) have been issued for gross proceeds of C$130,000, bringing the total amount raised in this financing to $511,500.
Each Unit issued in Tranche 2 consists of one common share of the Company and one common share purchase warrant (the “Warrant”). Each Warrant will be exercisable for one common share of the Company at a price of $0.07 until April 18, 2021. The proceeds of the financing are to be used for exploration and development of the Company’s properties and for general corporate costs.
The common shares issued under this portion of the financing are subject to a hold period and may not be traded until February 19, 2020.
The Company notes a correction to the news release dated August 22, 2019 as follows. Each Unit issued in Tranche 1 consists of one common share of the Company and one common share purchase warrant (the “Warrant”). Each Warrant will be exercisable for one common share of the Company at a price of $0.07 until February 22, 2021 (not January 22, 2021 as previously announced).
This financing is subject to receipt of TSX Venture Exchange final acceptance.
On behalf of the Board of Directors:
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.