AuRo Resources Corp.
TSX VENTURE : ARU

AuRo Resources Corp.

February 23, 2011 16:28 ET

AuRo Resources Increases Private Placement to $2.5 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 23, 2011) - AuRo Resources Corp. (the "Company") (TSX VENTURE: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

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
    or
    AuRo Resources Corp.
    Andreas Curkovic
    Investor Relations
    416-577-9927
    www.auroresources.com