Auriga Gold Completes $250,000 Debt Financing
29 March 2013 - 9:25AM
Access Wire
TORONTO, ONTARIO - March 28, 2013, Auriga Gold Corp. (TSX-V:
"AIA") ("Auriga Gold" or the "Company") announced today that it has
completed a private placement ("the Offering") of 250 of Units
raising proceeds of $250,000. The Units are comprised of an
unsecured note with a one year term in the principal amount of
$1,000, bearing a coupon of 10%, payable monthly and 3,333 common
shares of Auriga. A total of 888,888 common shares were issued in
connection with this offering are subject to a 4 month hold period
starting February 1, 2013. No commission was paid on this
offering.
Under terms of the loan agreement the proceeds from this
Offering are restricted to approved expenditures related to
development work at the Maverick Gold Project and other general
corporate purposes.
About Auriga Gold
Auriga Gold Corp. is a Canadian mine development and exploration
company focused on developing the Puffy Mine and expanding gold
resources on its Puffy and Nokomis deposits (the "Maverick Gold
Project"). The Company plans to upgrade and expand the resources at
the Maverick Gold Project, initiate test mining, complete
feasibility studies of mineral reserves, and bring the Puffy Mine
back into production. The Puffy Mine includes a 1,000 tpd flotation
mill, a developed underground ramp to 135 metres depth, is fully
road accessible and close to existing mining infrastructure. The
Maverick Gold Project is located in the Flin Flon Greenstone Belt
of Central Manitoba. To view current images of the property and
mill, please see www.aurigagold.ca/s/photogallery.asp
For more information please contact:
Auriga Gold Corp.
Gorden Glenn, Interim President and CEO
gglenn@aurigagold.ca
Phone: 416-214-2785
info@aurigagold.ca
http://www.aurigagold.ca
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
information with respect to the closing of this loan plus bonus
shares financing, TSX Venture Exchange approval, use of proceeds
and the future develop the Maverick Gold property. Although Auriga
Gold has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. Auriga Gold
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
Neither 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.
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