Mr. Mark Ashcroft reports
AURELIUS ANNOUNCES CLOSING OF FINAL TRANCHE OF NON-BROKERED EQUITY FINANCING FOR TOTAL GROSS PROCEEDS OF $6,041,000 ON THE OFFERING
Aurelius Minerals Inc. has closed the final tranche of its previously announced non-brokered private placement offering for additional gross proceeds of $510,000, including: (i) 400,000 common shares of the company on a postconsolidation basis for gross proceeds of $240,000; and (ii) 400,000 common shares which qualify as flow-through shares (as defined in Subsection 66(15) of the Income Tax Act (Canada)) for gross proceeds of $270,000 as contemplated in its press release dated May 7, 2021. This final tranche was sold through Raymond James Ltd. In total, the company raised gross proceeds of $6,041,000 on this offering and issued an aggregate of 9,393,500 common shares on a postconsolidation basis for the two tranches.
The offering is subject to receipt of the final approval of the TSX Venture Exchange. The securities issued are subject to a statutory four-month hold period expiring four months and one day from the date of issuance.
The net proceeds from the sale of common shares will be used by the company for corporate and general working capital purposes, and an amount equal to the gross proceeds from the sale of flow-through shares will be used to incur eligible Canadian exploration expenses as defined under the Income Tax Act (Canada) related to the Canadian properties of the company on or before Dec. 31, 2022. The company will renounce to the purchasers of the flow-through shares such Canadian exploration expenses with an effective date of not later than Dec. 31, 2021.
About Aurelius Minerals Inc.
Aurelius is a well-positioned gold exploration company focused on advancing its recently acquired and renamed Aureus gold properties, including Aureus East and West, the Tangier gold project, and the Forest Hill gold project, located in Nova Scotia, Canada.
Aurelius is also focused on advancing two district-scale gold projects in the Abitibi greenstone belt in Ontario, Canada, one of the world's most prolific mining districts: the 968-hectare Mikwam property in the Burntbush area on the Casa Berardi trend and the 12,425-hectare Lipton property on the Lower Detour trend.
The company has a management team with experience in all facets of the mineral exploration and mining industry, which will be considering additional acquisitions of advanced-stage opportunities in Nova Scotia, the Abitibi and other proven mining districts.
We seek Safe Harbor.
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