Or for Dissemination in the United States and Does Not Constitute an Offer of the Securities Described Herein
750 Grand Boulevard North Vancouver, BC V7L 3W4
Tel: 604-924-9376 Fax: 604-924-9371
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
FOR IMMEDIATE RELEASE (TSX V Symbol: AUX June 9, 2014
PRIVATE PLACEMENT
Auramex Resource Corp. (the “Company”) announces it will re-price the private placement announced May 8, 2014 from $0.04 per unit to $0.025 per unit, up to 20,000,000 units for proceeds of $500,000. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.05 per share in the first year, and $0.10 per share in the second year. The Company will pay cash finders’ fees of 10% to qualified finders who locate subscribers for the placement.
The offering is being made under a TSX Venture Exchange temporary pricing waiver and pursuant to BC Instrument 45-534 which permits an issuer to distribute securities to its existing shareholders, subject to the requirements of the instrument. The Company has set May 7, 2014 as the record date for the purpose of determining existing shareholders entitled to purchase securities under the offering. The Company will accept qualifying subscriptions of $500 or larger, and urges interested investors to contact the Company. The Company may combine the offering under BC Instrument 45-534 with sales pursuant to other available prospectus exemptions, including sales to accredited investors and close personal friends and business associates.
The Company’s Board of Directors, having approved this private placement, believes that it is an opportunity for many individuals with consolidated share holdings, to participate in a nonbrokered private placement on similar terms to accredited investors. This exemption unfortunately is not available to persons residing in Ontario or Newfoundland, or certain jurisdictions outside Canada.
The maximum number of units offered is 20,000,000 for gross proceeds of $500,000. If subscriptions received exceed the maximum offering, units will be allocated pro rata amongst all subscribers. The offering is not subject to any minimum total subscription.
If the offering is fully subscribed, the Company intends to use the proceeds as follows:
1. Up to $50,000 as finders’ fees for the placement
2. Up to $150,000 to settle accounts payable and for working capital.
3. Up to $250,000 on Stewart properties exploration.
4. $50,000 to repay outstanding loans made by management personnel.
Of the foregoing amounts, related parties to the Company will receive $26,400 in settlement of accounts payable and $50,000 in settlement of outstanding loans. If the offering is not fully subscribed, the Company will apply the proceeds in the order listed.
The private placement is 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 40,000 hectares near Stewart, a grass roots exploration project.
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.
AURAMEX RESOURCE CORP.