AuRo Resources Corp. (TSXV:ARU), a junior gold exploration company with interests in three of Colombia’s most prolific gold regions, announced that a $500,000 non-brokered private placement has been arranged for its Colombian and Canadian operations.
As quoted in the press release:
In accordance with the TSX Venture Exchange’s “Temporary Relief Measures”, AuRo proposes to issue approximately 16,666,666 Units priced at a price of $0.03 per Unit. Each Unit will consist of one common share of the Company and one share purchase warrant (a “Warrant”) with each Warrant entitling the holder to acquire an additional common share of the Company at $0.06 per share in year one, and $0.10 per share in year two.
Finder’s fees of 6% of Units sold may be payable in Units or cash. The private placement is subject to regulatory approval.