FRANKFURT Symbol 4LPP ALORO ANNOUNCES EXTENSION OF PRIVATE PLACEMENT ALORO MINING CORP. – (the “ Company”) announces that the TSX Venture Exchange (the “Exchange”) has granted a thirty (30) day extension to the Company for completion of its non-brokered
May 24, 2023 TSX.V Symbol AORO
FRANKFURT Symbol 4LPP
ALORO ANNOUNCES EXTENSION OF PRIVATE PLACEMENT
ALORO MINING CORP. – (the “ Company”) announces that the TSX Venture Exchange (the
“Exchange”) has granted a thirty (30) day extension to the Company for completion of its non-brokered
private placement (the “Offering”), previously announced in its News Releases of March 20, 2023 and
May 9, 2023.
The terms of the Offering provide for the issu ance of up to 10,000,000 units (each, a “ Unit”) at a price
of $0.05 per Unit for gross proceeds of up to $500,000. Each Unit consists of one common share in the
capital of the Company (each, a “Share”) and one common share purchase warrant (each, a “Warrant”).
Each Warrant is exercisable into on e additional Share at a price of $0.15 per Share for a period of two
years from the closing date. The Company closed a first tranche of the Offering on May 9, 2023 and
issued an aggregate of 2,600,000 Units for gross proceeds of $130,000.
The Company intends to use the proceeds from th e Offering for exploration work, including drilling
on its recently acquired Quitovac Mine Project, and for general working capital purposes.
Finder’s fees or brokers’ commissions may be paid in accordance with Exchange policies.
All securities will be subject to a four-month hold pe riod from the closing date. The Offering is subject
to Exchange approval.
None of the securities sold in connection with the Offering will be registered under the United States
Securities Act of 1933 , as amended, and no such securities may be offered or sold in the United States
absent registration or an applicable exemption from the registration requireme nts. This news release
shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Aloro Mining Corp.
Aloro controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora
Megashear, where a large part of Mexico’s recent go ld production is derived. Aloro also controls the
3,199- hectare Los Venados Project, which is located in the central part of the Mulatos Gold District and
is directly adjacent to the active Mulatos open pit mine of Alamos Gold Inc. The Los Venados is under
US $5,000,000 Option agreement to Alamos Gold Inc.
ALORO MINING CORP.
Per: “Thomas A. Doyle”
Thomas A. Doyle
President & CEO
http://www.aloromining.com/
For further information, please
contact:
Thomas A. Doyle
Phone: (604) 689-5722
Email: [email protected]
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.
This news release contains forward ‐looking information which is subject to a variety of risks and uncertainties
and other factors that could cause actual events or re sults to differ from those projected in the forward ‐looking
statements. Forward looking statements in this press release include, but are not limited to, statements regarding
the Offering, closing thereof, and the an ticipated use of proceeds. These forward ‐looking statements are subject
to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially
from those projected in the forward‐looking information. Risks that could change or prevent these statements from
coming to fruition include, but are not limited to, the i nability of the Company to close further tranches of the
Offering, failure to receive final TSX Venture Exchange approval for the Offering, general business, economic
and social uncertainties, litigation, legislative, envir onmental and other judicial, regulatory, political and
competitive developments, and other risks outside of the Company’s control.