Vancouver, British Columbia – Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) announces due to increased demand the Company will increase the non-brokered private flow-through financing announced August 17th, 2018 to CDN$450,000 through the sale of up to 9,000,000 flow-through common shares at a price of $0.05 per flow-through share. The Company has announced a first tranche closing of the financing on August 24th that consisted of a total of 2,337,000 flow-through shares being issued for gross proceeds to the Company of $116,850.
In addition to increasing the flow-through financing the Company announces a non-brokered private placement to raise gross proceeds of up to CDN$200,000 through the sale of up to 4,000,000 Units (the “Offering) at a price of $0.05 per Unit. Each unit consist of one common share of the Company (a “Share”) and one-half of one common share purchase warrant. Each whole warrant (a “Warrant”) shall entitle the holder to purchase one common share at an exercise price of $0.10 for 12 months following the Closing Date.
All the securities issued pursuant to this private placement will be subject to a four-month hold period. Completion of the Offering is subject to receipt of all required regulatory and other approvals, including acceptance by the TSX Venture Exchange. The Offering is not subject to any minimum aggregate subscription. The proceeds will be used for further exploration of the Company’s mineral properties in the Stewart area of British Columbia.
Auramex is exploring a large and highly prospective property portfolio at the south end of the Golden Triangle in British Columbia, with properties north, east and south of Stewart, a deep-water port.
The Golden Triangle is beginning to be recognized as one of the most highly mineralized geological settings with excellent exploration potential for future discoveries.
The Golden Triangle region has matured dramatically over the past couple of years, with two mines now in production, road access greatly improved, and a quantum leap in terms of geological understanding of the processes that created some of the largest, and highest-grade metal deposits on the planet.
On behalf of the Board of Directors:
President & CEO
For further information, contact:
VP Corporate Development
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