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Vancouver, British Columbia--(Newsfile Corp. - January 20, 2025) - Auric Minerals Corp. (CSE: AUMC) ("Auric" or the "Company") is pleased to announce a non-brokered financing of convertible debenture units for up to $1,000,000, and has raised $429,021 from exercised warrants.
The debentures will have a two year term, convertible at $0.95 a share, and will pay interest of 8% semi annually in cash or shares (based on 10 day VWAP) at the election of the Company. Each Unit of $1,000 debentures will have 1,000 warrants exercisable at $1.25 at any time for a period of 3 years.
The Company intends to use the proceeds of the financing for exploration and technical work on its properties, evaluation and potential acquisition of additional strategic assets, general claim maintenance, corporate and working capital purposes.
The Company may pay finders' fees to eligible finders in connection with the offering, subject to compliance with applicable securities laws and Canadian Securities Exchange policies.
About the Company
Auric Minerals Corp. is a critical minerals exploration company based in Oakville, Ontario and holds options over the Route 500 and Bub Uranium Properties in Labrador, and the Goodeye Property in British Columbia, Canada.
AURIC MINERALS CORP.
Chris Huggins, Director, and interim CEO
For more information, please call Chris Huggins at (604) 968-4844 or email chris@greenwood.capital.
Forward-Looking Statements
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the expected completion of the Financing, the potential negotiation of strategic partnerships, and the use of proceeds. Forward-Looking statements are based on a number of assumptions and estimates that, while considered reasonable by Auric Minerals Corp. ("Auric" or the "Company") as of the date of this news release, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies.
Forward-Looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such factors include, among others: the ability of the Company to successfully complete the Financing on the terms currently contemplated or at all; changes in economic conditions or financial markets; changes in operating conditions (including capital costs, operating costs, and supply chain constraints); and receipt of necessary approvals.