Vancouver, British Columbia – Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) announces that it has received consent from the TSX Venture Exchange to extend the closing date for its previously announced private placement financings until November 30, 2018. The Company expects to close the private placements prior to that time.
The Company` intends to raise an aggregate of 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 and closed a first tranche 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 the flow-through financing the Company intends 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.
Auramex is exploring a large and highly prospective property portfolio in the Stewart Camp, at the south end of the Golden Triangle in British Columbia. Auramex has 200 square kilometers of mineral rights, located 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 few 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
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.