AUV

Augyva Mining Resources Inc. (TSX VENTURE:AUV) ("Augyva" or the "Company") is
pleased to announce that it has closed the second tranche (the "Second Tranche")
of its previously announced private placement (the "Offering"), issuing
10,671,743 units of the Company (each a "Unit") at a price of $0.115 per Unit
for aggregate gross proceeds of $1,227,250.57. Each Unit consists of one common
share in the capital of the Company (a "Common Share") and one common share
purchase warrant (a "Warrant"). Each Warrant will be exercisable for one common
share of the Company (a "Warrant Share") at an exercise price of $0.14 per
Warrant Share at any time prior to 5:00 p.m. (Toronto time) on April 8, 2019,
subject to accelerated expiry in certain circumstances. The Common Shares and
Warrants comprising the Units and any Warrant Shares issued upon the exercise of
the Warrants are subject to a statutory hold period which expires on August 9,
2014. 


A total of 94,590,569 common shares of the Company are outstanding following the
closing of the Second Tranche, inclusive of 28,456,630 common shares of the
Company issued in the first tranche of the Offering on April 7, 2014. 


2,608,696 Units sold in the Second Tranche were subscribed to by an insider of
the Company (the "Insider's Participation"). The Insider's Participation is
exempt from the formal valuation and shareholder approval requirements provided
under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The
exemption is based on the fact that the market value of the Insider's
Participation or the consideration paid by such insider does not exceed 25% of
the market value of the Company. The Company did not file a material change
report at least 21 days prior to the completion of the Second Tranche since the
Insider's Participation had not been established at that time.


The Offering is subject to receipt of requisite approvals, including the final
approval of the TSX Venture Exchange. 


About Augyva Mining Resources Inc.

Augyva is an exploration and development company holding five properties located
in the James Bay and Abitibi regions of the Province of Quebec. Its major
project is its 35% interest in the Duncan Lake Iron Property located in the
western part of the La Grande Greenstone Belt. The property is accessible by
road and covers approximately 25,602 hectares. Augyva received the results of a
National Instrument 43-101 compliant Preliminary Economic Assessment prepared by
Met-Chem Canada Inc. in March 2013. The property is subject to an option and
joint venture agreement between Augyva and Canadian Century Iron Ore Corporation
which has 65% interest in the property. 


In addition to the Duncan Lake Iron Property, Augyva holds a 100% interest in
four other mineral properties, namely: Yasinski and Kali in the James Bay region
and Senneville and Malartic in the Abitibi region. At these mineral properties,
the exploration focus is for other than iron ore. 


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. 


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and
uncertainties. In particular, this news release contains forward-looking
information relating to the closing of the Offering. There can be no assurance
that such information will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such information. In
particular, there are certain known and unknown risks, uncertainties and other
factors that may cause the closing of further tranches of the Offering not to
occur, including but not limited to: risks related to capital markets, general
economic conditions, legislative and regulatory developments and the regulatory
approval process for the Offering. In addition, a description of assumptions
used to develop such forward-looking information and a description of risk
factors that may cause actual results to differ materially from forward-looking
information can be found in Augyva's disclosure documents on the SEDAR website
at www.sedar.com. Augyva does not undertake to update any forward looking
information except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Augyva Mining Resources Inc.
Peter R. Jones
Chairman and Interim CEO
289-837-0143
PD123Jones@Gmail.com

Augyva Mining Resources Inc. (TSXV:AUV)
Historical Stock Chart
From Jun 2024 to Jul 2024

Augyva Mining Resources Inc. (TSXV:AUV)
Historical Stock Chart
From Jul 2023 to Jul 2024