Minaurum Closes First Tranche of Non-Brokered Private Placement
Minaurum Gold Inc. ("Minaurum") is pleased to announce that further to its news release of April 12, 2013, it has closed the first tranche of its non-brokered private placement of 2,104,400 Units ("Units") at a price of $0.10 per Unit for gross proceeds of $210,440. A four month hold has been placed on these securities expiring on October 13, 2013. Insiders of the company have subscribed for a total of 76% of the financing.
Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at a price of $0.15 for the first year and $0.20 for the second year until June 12, 2015.
In connection with the financing, Minaurum has paid a cash finders' fee to certain finders for an aggregate amount of $1,600.
The proceeds of the private placement will be used by Minaurum for ongoing drill permitting at the Vuelcos del Destino project in the Guerrero Gold Belt, ongoing exploration programs as well as for working capital purposes.
Minaurum Gold is presently focused on its projects in the Guerrero Gold Belt, Mexico. Surface work continues at the Vuelcos del Destino, El Pórfido, and Jackie projects. For more information, please visit our website at www.minaurum.com and our You Tube Minaurum Video Channel (www.youtube.com/user/minaurumgold.com)
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu - Investor Relations Manager
(778) 330 0994 or via email at info@minaurum.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
| 1500 - 409 Granville St. Vancouver, BC V6C 1T2 |
Telephone 778 330-0994 www.minaurum.com info@minaurum.com |
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitute forward-looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum' s current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
