Aurelius Announces Completion of $150,000 Financing

 

TORONTO, Oct. 30, 2019 (GLOBE NEWSWIRE) -- Aurelius Minerals Inc. (TSX.V: AUL) (the “Company” or “Aurelius”) announces that it completed a non-brokered placement offering (the “Offering”) of 3,000,000 common share units (“Common Share Units”) at a price of $0.05 per Common Share Unit for aggregate gross proceeds of $150,000.

Each Common Share Unit consists of one common share of the Company (a “Common Share”) and one-common share warrant (“Common Share Warrant”), with each warrant entitling the holder thereof to acquire one Common Share at a price of $0.06 per Common Share for a period of two years following the closing of the Offering.

The net proceeds from the issuance of the Common Share Units will be used for general corporate purposes. The Company did not pay any commission in respect of this financing.

The Offering is subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange.

The securities issued in connection with the offering are subject to a standard four month hold period expiring March 2, 2020.

Certain directors and officers of the Company participated in the Offering by acquiring an aggregate of 2,000,000 Common Share Units.

This news 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).

About Aurelius

Aurelius is a well-positioned gold exploration company focused on advancing two district-scale gold projects in the Abitibi Greenstone Belt in Ontario, Canada, one of the world’s most prolific mining districts; the 968-hectare Mikwam Property, in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton Property, on the Lower Detour Trend. In 2018, Ontario converted its manual system of ground and paper staking and maintaining unpatented mining claims to an online system. All active, unpatented claims were converted from their legally defined location to a cell-based provincial grid. The Mikwam Property is comprised of 9 legacy claims consisting of 69 Cell Claims including 29 Single Cell Mining Claims (“SCMCs”) and 40 Boundary Cell Mining Claims (“BCMCs”). The Lipton Property is now comprised of 57 legacy claims consisting of 721 Cell Claims, 563 SCMCs, 143 BCMCs, and 30 “internal” and overlapping (i.e., two occupying the same space) BCMCs. 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.

On Behalf of the Board
AURELIUS MINERALS INC.

For further information please contact:

Aurelius Minerals Inc.
Mark N.J. Ashcroft, President & CEO
info@aureliusminerals.com
Tel.: (416) 304-9095
www.aureliusminerals.com

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.

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Aurelius within the meaning of applicable securities laws, including statements with respect, to the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. Possible future financing may not be completed. These risks and uncertainties include but are not limited to those identified and reported in Aurelius’ public filings under Aurelius Minerals Inc.’s SEDAR profile at www.sedar.com. Although Aurelius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Aurelius disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.