AuRo Closes Tranche 1 of Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/08/12 -- AuRo Resources Corp. (TSX VENTURE: ARU)(FRANKFURT: NXP3) announces that it has closed Tranche 1 of its previously announced non-brokered private placement of up to 20,000,000 units (the "Units") priced at $0.05 per Unit, to raise gross proceeds of up to $1,000,000.
The Company closed Tranche 1 by issuing 4,910,000 Units for gross proceeds of $245,500. Each Unit consists of one (1) common share of the Company and one-half (1/2) of one share purchase warrant (a "Warrant") with each whole Warrant entitling the holder thereof to acquire an additional common share of the Company for a period of 18 months at a price of $0.10 per share.
An aggregate of $13,550 in cash was paid to Haywood Securities Inc., and Macquarie Private Wealth Inc., for that portion of the financing attributable to these finders' efforts. In addition, a total of 271,000 in agents' warrants were issued to the finders, with each warrant exercisable at $0.10 for a period of 12 months from the date of Closing.
All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
About AuRo Resources Corp.
AuRo Resources is a mineral exploration company with major land positions in Colombia's leading gold camps. The Company holds property interests in three of the country's most prolific gold regions in Antioquia, Tolima-Quindio, and Santander-Norte de Santander. AuRo shares trade on the TSX Venture Exchange under the symbol ARU. For further information please visit www.auroresources.com.
ON BEHALF OF THE BOARD
Mark Lawson, President & CEO
Neither the 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.
Contacts:
AuRo Resources Corp.
Mark Lawson
President & CEO
416-623-0565
AuRo Resources Corp.
Jeremy Ross
Corporate Development
604-893-8838
604-681-0796 (FAX)
www.auroresources.com