AuRo Resources Increases Private Placement to $2.5 Million
NEWS RELEASE
AuRo Resources Increases Private Placement to $2.5 Million
Vancouver, British Columbia, February 23, 2011… AuRo Resources Corp. (the “Company”) (TSXV: ARU) announces that it is increasing the size of its non-brokered private placement (previously announced February 16, 2011) to up to 16,730,000 Units at a price of $0.15 per Unit, for gross proceeds of up to $2.5 Million. Each unit is comprised of one common share of the Company and one-half of one transferable common share purchase warrant, each whole warrant exercisable for a period of two years from the date of issue to purchase one common share of the Company at a price of $0.30 per share.
In addition to working capital, the net proceeds of the private placement will be used for the Company’s exploration activities in Colombia and AuRo’s ongoing review of potential property transactions.
The private placement is subject to TSX Venture Exchange (the “Exchange”) acceptance and required regulatory approvals. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
A finder’s fee will apply in this transaction in accordance with the policies of the Exchange.
ON BEHALF OF THE BOARD
(sgd.) “Mark Lawson”, President & CEO
For further information please contact:
Jeremy Ross Tyler Ross Corporate Development T: 604-893-8838
Mark Lawson President & CEO T: 416-623-0565
Andreas Curkovic Investor Relations T: 416-577-9927
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.
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