AurCrest Gold Announces Financing
TORONTO, ONTARIO--(Marketwired - May 6, 2015) - AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE:AGO) wishes to announce that it is undertaking a non-brokered working capital unit private placement to raise proceeds of up to $250,000 (the "Offering") by offering up to 5,000,000 working capital units (each a "WC Unit") of the Company at a price of $0.05 per WC Unit.
Each WC Unit consists of one common share of the Company and one (1) common share purchase warrant (a "WC Warrant"). Each WC Warrant entitles the holder to acquire an additional common share until the earlier of: (i) five (5) years from the closing of the Offering; and (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at least $0.15 for twenty (20) consecutive trading days and the 20th trading day (the "Final Trading Day") is at least four (4) months from closing, the date which is thirty (30) days from the Final Trading Day (the "Trigger Date").
The Company will pay finders' fees of 7% cash and 8% compensation warrants ("Compensation Warrants") to eligible finders. Each Compensation Warrant is exercisable at a price of $0.05 until the earlier of: (i) five (5) years from closing of the Offering; and the Trigger Date.
The funds raised in this offering will be used for working capital. The Offering is subject to regulatory approval. The securities issued will be subject to a hold period expiring four months plus one day from the closing of the Offering.
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.
Forward-Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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.
Contact
AurCrest Gold Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 368-2929
info@aurcrestgold.com
www.aurcrestgold.com