Private Placement and Loan Transaction Auramex Resource Corp., (the "Company") announces a non-brokered private placement of up to 1,000,000 units at $0.05. Each unit will comprise o ne common share and one share purchase
750 Grand Boulevard North Vancouver, BC V7L 3W4
Tel: 604-924-9376 Fax: 604-924-9371
FOR IMMEDIATE RELEASE (TSX V Symbol: AUX) February 24, 2017
Private Placement and Loan Transaction
Auramex Resource Corp., (the "Company") announces a non-brokered private placement of up to 1,000,000 units at $0.05. Each unit will comprise one common share and one share purchase warrant. Each underlying warrant will entitle the holder to purchase one additional common share of the Company for a period of two years, at a price of $0.05 per share.
The Company will also conduct a loan transaction of up to $15,000 from a small group of lenders. The loans will bear interest at the rate of 10% per annum and will mature in one year. The Company will issue up to 60,000 bonus shares or 300,000 bonus warrants, or a combination of shares and warrants (as allowed by TSX Venture Exchange policy) to the lenders in the aggregate, as further consideration for the loans.
The Company will pay cash finders' fees of 10% to qualified finders who locate subscribers for the placements.
The offering is being made under available prospectus exemptions which include existing shareholders, accredited investors and close personal friends and business associates. Related parties may take up to $30,000 of the financings. The net proceeds from the private placement and the loans will be used to retire third party debt and to provide working capital.
The shares are subject to a hold period of four months and one day from the date of issue.
The private placement and the loan transaction are subject to the approval of the TSX Venture Exchange.
About Auramex Resource Corp. – www.auramex.com
Auramex Resource Corp. is a junior mining exploration company with projects in British Columbia and in Sinaloa State, Mexico. In B.C., the Company holds approximately 20,000 hectares near Stewart, in the Golden Triangle.
For information on Auramex please contact Judie Whitby at (604) 924-9376 or refer to the company’s website: www.auramex.com.
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.