Business
Aurelian Announces Closing of Private Placement
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWS WIRE SERVICES/ Trading ...
About this update from Tesoro Minerals Corp.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWS\n\n\nWIRE SERVICES/\n\n\nTrading Symbol TSX:ARU\n\n\nTORONTO, July 28 /CNW/ - Aurelian Resources Inc. (TSX:ARU) today\nannounced completion of the previously announced private placement financing\nby Kinross Gold Corporation consisting of 15 million Aurelian shares at a\nprice of $4.75 per share for total proceeds of $71.25 million. Kinross\nannounced earlier today that it has completed the mailing to Aurelian\nshareholders of the takeover bid circular and other documents relating to its\noffer to acquire all of the outstanding common shares of Aurelian (see\nJuly 24, 2008 press release). The offer expires at 6:00 p.m. (Toronto time) on\nSeptember 3, 2008.\n\n\nThe private placement represents a significant increase in Aurelian's\nworking capital and a strategic investment in Aurelian by Kinross irrespective\nof the outcome of the proposed friendly combination with Aurelian. Proceeds of\nthe private placement are intended for development of the Fruta del Norte\ngold-silver deposit and general corporate purposes.\n\n\nAbout Aurelian\n\n\n--------------\n\n\nAurelian Resources Inc. is a publicly-listed (TSX:ARU) company engaged in\nexploring, discovering and developing mineral wealth in Ecuador. The Fruta del\nNorte (FDN) discovery lies at the heart of the Condor Project, located in\nsouth-eastern Ecuador. The initial Inferred Resource for FDN was released in\nOctober 2007 and included 58.9 million tonnes grading 7.23 g/t gold and\n11.8 g/t silver for 13.7 million ounces of contained gold and 22.4 million\nounces of contained silver (Report titled "A Mineral Resource Estimate for the\nFruta del Norte Deposit, Cordillera del Condor Project, Zamora-Chinchipe\nProvince, Ecuador" and dated November 15, 2007 filed on www.sedar.com). Visit\nwww.aurelian.ca for more information.\n\n\nForward Looking Statement\n\n\nSome of the statements contained herein may be forward-looking statements\nwhich involve known and unknown risks and uncertainties. Without limitation,\nstatements regarding future political events, potential mineralisation,\nmetallurgy and resources, exploration results, and future plans and objectives\nof the Company are forward looking statements that involve various degrees of\nrisk and may not be within the control of the Company. T...