Northwestern Enterprises Ltd.

May 11, 2016 18:12 ET

Northwestern Enterprises Ltd. Announces Agreements to Acquire Common Shares of Aura Minerals Inc.

TORTOLA, BRITISH VIRGIN ISLANDS--(Marketwired - May 11, 2016) - Northwestern Enterprises Ltd. ("Northwestern"), a company beneficially owned by Paulo Carlos de Brito ("Brito"), announces that effective April 29, 2016, it has completed the acquisition of an aggregate of 83,532,030 common shares ("Aura Shares") of Aura Minerals Inc. ("Aura") pursuant to private agreements with three separate sellers. The 83,532,030 Aura Shares (the "Purchased Shares") were purchased by Northwestern in private transactions at a price of $0.09 per share, with one transaction completed April 26, 2016 and the remaining two transactions completed April 29, 2016.

The Purchased Shares represent approximately 29.2% of the issued and outstanding Aura Shares (based upon the 285,986,796 Aura Shares stated to be issued and outstanding by Aura).

After giving effect to the acquisition of the Purchased Shares, Northwestern holds an aggregate of 137,360,904 Aura Shares representing approximately 48.0% of the issued and outstanding Aura Shares.

The entering into of the private agreements to acquire the Purchased Shares and the completion of the transactions contemplated thereunder was completed as part of Northwestern's ongoing review of its investment holdings and to permit it to acquire a significant ownership position in Aura. In connection with the increase in its position in Aura, Northwestern intends to propose nominees for the board of directors of Aura and to cause such nominees to be elected or appointed in accordance with applicable law, and to engage in dialogue with management and the board of directors of Aura regarding strategic options available to the company.

For additional information, or to obtain a copy of the report required pursuant to the early warning reporting requirements, please contact:

Lucia Pfeiff Ham
Telephone: +598 2518 2950
Email:lpfeiff@pvci.com.uy
Northwestern Enterprises Ltd.
Morgan & Morgan Building
Pasea Estate, Road Town
Tortola, British Virgin Islands

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