AuRo Resources Corp.
TSX VENTURE : ARU

AuRo Resources Corp.

March 03, 2011 12:28 ET

AuRo Closes $2.5 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2011) - Further to receipt of TSX Venture Exchange acceptance, AuRo Resources Corp. (the "Company") (TSX VENTURE:ARU) announces it has closed its non-brokered private placement by issuing 16,922,416 Units at a price of $0.15 per Unit for gross proceeds of $2,538,624 (see press releases dated February 16 and 23, 2011). 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.

Finder's fees were paid in the form of $208,926 in cash and 1,197,753 finders' warrants issued to Union Securities Ltd., Mackie Research Capital Corporation, Canaccord Genuity Corp., Haywood Securities Inc. and Opus 3 Inc. for the portion of the financing attributable to such finders. Each finder's warrant entitles the holder to acquire one common share at $0.30 for a two year period.

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.

All of the securities issued pursuant to this offering are restricted from trading until July 2, 2011.

ON BEHALF OF THE BOARD

Mark Lawson, President & CEO

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.

Contact Information

  • AuRo Resources Corp.
    Jeremy Ross
    Corporate Development
    604-893-8838
    or
    AuRo Resources Corp.
    Tyler Ross
    Corporate Development
    604-893-8838
    604-681-0796 (FAX)
    or
    AuRo Resources Corp.
    Mark Lawson
    President & CEO
    416-623-0565
    www.auroresources.com