Correction: Auracle Resources Ltd. TSX Approves Loan Agreements and Issuance of Share Bonuses
28.09.2012 | Marketwire
VANCOUVER -- (Marketwire) -- 09/27/12 -- Auracle Resources Ltd.This amended news release has been prepared and is being issued to correct and replace in its entirety a news release issued on September 27, 2012 based on incorrect data regarding the amount of the loans and the number of bonus shares issued. The Company announces that the TSX Venture Exchange has accepted for filing documentation pursuant to loan agreements dated September 7, 2012. The Company has entered into four loan agreements with three insiders of the company and a shareholder of the company pursuant to which certain lenders (the "Lenders") loaned an aggregate amount of $89,613.77 (the "Loans"). Interest is payable at 10% per annum payable upon repayment of the loans.
As additional consideration of the Loans being granted, the Company has agreed to grant each Lender 2 bonus shares per $1 advanced to the Company totaling an aggregate amount of 179,228 shares issued. The share bonus is consistent with the loan bonus provisions of the TSX Listings Policy 5.1.
ON BEHALF OF THE BOARD OF DIRECTORS,
Robin Forshaw
President & CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Specifically, there is no assurance the Company will be able to close the private placement on the terms outlined above, in whole or in part.
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.
Contacts:
Auracle Resources Ltd.
Robin Forshaw, President & CEO
604-682-3131
604-682-1816 (FAX)
www.auracleresources.com