Aurwest Announces Increase in Private Placement
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AURWEST RESOURCES ANNOUNCES INCREASE IN PREVIOUSLY ANNOUNCED PRIVATE
PLACEMENT
CALGARY, ALBERTA (August 31, 2020) – Aurwest Resources Corporation (“ Aurwest” or the “ Company”)
(CSE: AWR) is pleased to announce that, due to strong demand, it is increasing its previously announce d private
placement, as initially disclosed in the Company’s press release dated August 20, 2020, from $750,000 to
$1,400,000. Pursuant to this private placement, t he Company may issue up to 28,000,000 units (each, a “ Units") of
the Company at a price of $0.05 per Unit for proceeds of up to $1,400,000 (the " Offering").
Each Unit will consist of one common share (“ Common Share”) of the Company and one Common Share purchase
warrant (“Warrant”). Each Warrant is exercisable into one Common Share at a price of $0.10 per Common Share
at anytime within 18 months following the date of issuance of the Warrant or at a price of $0.15 per Common Share
if exercised by the hold er any time after the ini tial 18 months but before the date that is 36 months from the date of
issuance of the Warrant. The Company has the right to force conversion of the Warrants, if at any time from and
after the date of issuance, the daily volume -weighted average trading price of the Company’s common shares on the
Canadian Securities Exchange, equals or exceeds $0.20 for ten (10) consecutive trading days.
There is no minimum number of Common Shares or minimum aggregate proceeds required to close the Offering
and the Company may, at its discretion, elect to close the Off ering in one or more closings. Management anticipates
that the Company will allocate the net proc eeds of the Offering for certain working capital requirements on its
Stellar copper/gold property and for other general corporate purposes.
Pursuant to the O ffering, t he Company may pay a finder's fe e, to eligible finders, in the amount of 5% cash
commission and 10% Units.
The Offering is expected to close on or about September 14, 2020, or such date as agreed to by the Company, and is
subject to certain cond itions, including but not limited to, receipt of all necessary corporate and regulatory
approvals. The securities issued under the Offering will have a hold period of four months and one day from the date
of closing in accordance with applicable securities legislation.
There is no material fact or material change of the Company that has not been disclosed.
In addition to conducting the Offering pursuant to the Existing Security Holder Exemption and the Investment
Dealer Exemption, the Offering will also be conducted pursuant to other available prospectus exemptions.
The Offering remains subject to approval by the Canadian Securities Exchange. All funds are stated in Canadian
dollars.
None of the securities issued in connection with the Offering will be registered under the United States Securities
Act of 1933, as amended (the " US Securities Act "), and none of them may be offered or sold in the United States
absent registration or an applicable exemption from the registration requirements of the US Securi ties Act.
This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there by any sale of
the securities in any state where such offer, solicitation, or sale would be unlawful.
About Aurwest Resources Corporation
Aurwest is a Canadian -based junior mining/exploration company focused on the procurement, exploration and
development of gold, silver, and other precious and base metal properties in North America. The Company currently
holds a 100% interest in the Stellar copper/gold Project, located approximately 25 kilometers southwest of Houston ,
British Columbia.
On Behalf Of Aurwest Resources Corporation
“Colin Christensen”
President and Chief Executive Officer
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For additional information please contact:
Colin Christensen
Telephone: (403) 483-8363
Email: [email protected]
Website: www.aurwestresources.com
Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions and expectations,
which are not historical in nature are intended to be, and are hereby identified as “forward -looking statements”.
Forward looking statements m ay be identified by words including “anticipates”, “believes”, “intends”, “estimates”,
“expects” and similar expressions. The Company cautions readers that forward -looking statements, including
without limitation those relating to the Company’s future oper ations and business prospects, are subject to certain
risks and uncertainties that could cause actual results to differ materially from those indicated in the forward -looking
statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place
undue reliance on forward-looking statements. Any forward -looking statements are made as of the date of this news
release, and the Company assumes no obligation to update the forward -looking statements, except in accordance
with the applicable laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.