Minaurum Gold Closes First Tranche of Non Brokered Private Placement
21 December 2013 - 10:49AM
Marketwired
Minaurum Gold Closes First Tranche of Non Brokered Private
Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 20, 2013) -
Minaurum Gold Inc. ("Minaurum") (TSX-VENTURE:MGG) is pleased to
announce that, further to its news release earlier today, it has
completed a first tranche closing on $375,000 of its $750,000
non-brokered private placement. Minaurum has issued 7,500,000 units
at a price of $0.05 per unit. Lowell Copper Ltd. subscribed for the
entire first tranche.
The funds raised by way of the private placement will be used
for exploration and drill permitting at its Vuelcos del Destino
project in the Guerrero Gold Belt as well as for working capital
purposes. In addition to the contractual restrictions disclosed in
Minarum's news release earlier today, the securities are subject to
a hold period and may not be traded until April 21, 2014.
As a result of the closing of the first tranche, Lowell Copper
Ltd. beneficially owns a total of 7,500,000 common shares of
Minaurum and share purchase warrants entitling it to purchase an
additional 7,500,000 common shares, which represents 12.4% of
Minaurum's issued common shares on a non-diluted basis or 22.1% on
a partially diluted basis assuming only the exercise of the share
purchase warrants held by Lowell Copper Ltd. Lowell Copper Ltd.
acquired the securities for investment purposes. Lowell may,
subject to the previously disclosed restrictions on transfer agreed
upon with Minaurum, increase or decrease its ownership of common
shares of Minaurum from time to time as it may determine
appropriate.
Minaurum Gold is a gold-copper explorer focused on its Vuelcos
del Destino project in the Guerrero Gold Belt, Mexico. For more
information, please visit our website at www.minaurum.com and our
YouTube Minaurum Video Channel
(http://www.youtube.com/user/minaurumgold).
ON BEHALF OF THE BOARD
Darrell A. Rader, President and CEO
The TSX Venture
Exchange does not accept responsibility for the adequacy or
accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain
disclosure in this release, including statements regarding the
intended use of proceeds, constitute forward-looking information.
In making the forward-looking statements in this release, Minaurum
has applied certain factors and assumptions that are based on
Minaurum' s current beliefs as well as assumptions made by and
information currently available to Minaurum, including that the
Minaurum is able to obtain any required government or other
regulatory approvals, equipment and personell for its planned
operations and that actual results of exploration activities will
be consistent with management's expectations. Although Minaurum
considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements, including actual results of
Minaurum's operations being different than those expected by
management and delays in obtaining or failure to obtain required
government or other regulatory approvals, equipment, personnel or
financing. Readers are cautioned not to place undue reliance on
forward-looking statements. Minaurum does not intend, and expressly
disclaims any intention or obligation to, update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
Minaurum Gold Inc.Sunny PannuInvestor Relations Manager(778) 330
0994info@minaurum.comwww.minaurum.com
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