AU Minera Corp.
AU Minera Announces Private Placement Agreement
AU Minera Corp. / Key word(s): Agreement AU Minera Announces Private Placement Agreement February 7, 2011 (EquityStory AG) – AU Minera Corporation (FSE:ZAU) ('AU Minera' or the 'Company') is pleased to report that the Company has entered into a private placement agreement with Oceanside Trading Corp ('Oceanside'). Oceanside, a private investment company which is focused on the identification of producing mining companies with strong growth potential, has agreed to invest a minimum of EUR450,000 with AU Minera in consideration for units of AU Minera securities to be issued to Oceanside. Each unit acquired by Oceanside will be comprised of one common share and one share purchase warrant of the Company. Each share purchase warrant will entitle the holder to acquire one (1) additional common share of the Company's capital stock at any time within three (3) years from the date of completion of the private placement at a conversion price of EUR3.50 per common share. AU Minera President Alejandro Diaz stated that 'the identification of a strong financial partner with expertise in the mining industry is critical to the execution of the Company's business plan at this juncture. It is management's intention to use the proceeds of the Oceanside financing to lease additional equipment needed to expand our production and processing capabilities at the Caracol mine site and to commission an engineering report formatted on a basis consistent with N.I. 43-101. Such a report can be used to attract institutional investors and to secure such additional financing as may be necessary until the Company is in a position to finance development from positive cash flow.'
About AU Minera Corporation AU Minera Corporation was formed to identify developed or producing mining properties in politically stable South American countries and to take advantage of management experience and expertise in the South American mining industry to identify mining prospects that lend themselves to rapid development, production and, ultimately, the enhancement of shareholder values. The management of AU Minera is primarily focused on building reserves and utilizing positive cash flow to internally finance the development of prospects on a basis that avoids the undue issuances from treasury that impact negatively on earnings. On behalf of the Board of Directors
AU Minera Corporation E-mail: alex@auminera.com Website: www.auminera.com
FORWARD-LOOKING STATEMENTS Statements in this document which are not purely historical are 'forward-looking statements', including any statements regarding the intent, belief or current expectations of AU Minera Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include, among others, material changes commodity prices which could impact negatively on operating margins and profitability, material changes in the global capital markets that may impact negatively on the Company's ability to secure the working capital required to complete the ongoing development of its mineral rights on a timely basis, the competitive nature of the mining industry as it relates to the Company's ability to attract the personnel required to efficiently execute the Company's business plan. Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as updates may be required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements. Although the Company believes that the plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the applicable securities laws of any such jurisdiction. End of Corporate News 07.02.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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