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AURUM LAKE MINING CORPORATION
Brookfield Place, Suite 4400
181 Bay Street, Toronto, ON M5J 2T3
PRESS RELEASE
December 4, 2023 TSX-V: ARL.P
AURUM LAKE MINING ANNOUNCES AMENDMENT TO TERMS OF
CONCURRENT FINANCING
TORONTO, ON – Aurum Lake Mining Corporation (“Aurum” or the “Company”) announces further
to its news release of November 8, 2023, an update to the terms of the previously announced non-brokered
private placement (the “Concurrent Financing”) in connection with the Company’s qualifying transaction
(the “Transaction”).
The amended Concurrent Financing will now consist of both common shares (“ Common Shares”) at a
price of $0.40 per Common Share and flow-through shares (“FT Shares”) at a price of $0.50 per FT Share
to raise minimum proceeds of at least $2,000,000.
Aurum intends to use the proceeds from the Concurrent Financing to fund the exercise of Aurum’s option
to acquire a 100% interest of certain mineral claims known as the Homathko Gold Project, located in the
Province of British Columbia (the “Homathko Property”), the exploration of the Homathko Property, and
to satisfy the general working capital of the resulting issuer following the Transaction.
In connection with the Concurrent Financing, Aurum will pay a finder’s fee consisting of (i) a cash
commission in the amount of 6% of the gross proceeds raised in the Concurrent Financing from persons
introduced to Aurum by the finder (the “Cash Fee”) and (ii) compensation warrants (“Finder’s
Warrants”) equal to 6% of the aggregate Common Shares subscribed for by persons introduced to Aurum
by the finder. The payment of the Cash Fee and the issuance of the Finder’s Warrant will oc cur upon on
completion of the Transaction. Each Finder’s Warrant entitles the holder thereof to purchase one Common
Share at an exercise price of $0.40 per Common Share for a period of twenty-four (24) months from the
date of issuance of the respective Fin der’s Warrant. Assuming a Concurrent Financing of $2,000,000, the
Company will issue up to 300,000 Finder’s Warrants pursuant to the Concurrent Financing.
Completion of the Transaction is subject to the satisfaction of the conditions of the TSX Venture Exchange
including completion of the Concurrent Financing.
About Aurum Lake Mining Corporation
The Company is a capital pool company created under Policy 2.4 of the TSX Venture Exchange (“TSXV”).
It does not own any assets, other than cash or cash equivalents. The principal business of the Company is
to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once
identified and evaluated, to negotiate an acquisition or participation so as to complete a Qua lifying
Transaction (as such term is defined in the policies of the TSXV). Any proposed Qualifying Transaction
must be approved by the TSXV and, in the case of a non-arm’s length Qualifying Transaction, must also
receive majority approval of the minority s hareholders. Until the completion of a Qualifying Transaction,
the Company will not carry on any business other than the identification and evaluation of businesses or
assets with a view to completing a proposed Qualifying Transaction.
For further information please contact:
Patrick Sapphire
Chief Executive Officer
Phone: 647-530-1117
Completion of the Transaction is subject to a number of conditions, including, but not limited to, Exchange
acceptance and, if applicable pursuant to Exchange requirement s, majority of the minority shareholder
approval. Where applicable, the Transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement
to be prepared in connection with the Transaction, any information released or received with respect to the
Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a
capital pool company should be considered highly speculative.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This press release may contain certain “forward-looking statements.” Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results,
performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward -looking statements. These forward -
looking statements or information may relate to the Transaction , the Concurrent Financing, and various
approvals required in connection with the Transaction and the Concurrent Financing , the reliability of
third-party information and other factors or information Any forward-looking statement speaks only as of
the date of this news release and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking statement, whether as a result of new
information, future events or results or otherwise.