Aura Announces Increase in Private Placement Financing to up to $1,500,000

About this update from West Point Gold Corp.

[{"type":"text","content":"Aura Announces Increase in Private Placement Financing to up to $1,500,000Ottawa, Ontario--(Newsfile Corp. - July 9, 2020) - Aura Resources Inc. (TSXV: AUU) (\"Aura\" or the \"Company\") announces that due to significant investor demand it is increasing the maximum amount of its private placement financing announced in its press release dated July 6, 2020 to up to $1,500,000. The non-brokered private placement will now raise gross proceeds of a minimum of $500,000, comprising 8,333,333 units, and up to a maximum of $1,500,000, comprising 25,000,000 units, at $0.06 per unit (the \"Offering\"). Each unit consists of one common share of the Company and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the Company at a price of $0.10 per share for a period of 24 months following the date of issuance. Any securities issued under the Offering would be subject to a statutory hold period of four months and one day from the date of issuance. This Offering is subject to approval of the TSX Venture Exchange (\"TSX-V\"). The Company has also revised the anticipated closing date of the Offering to on or about July 24, 2020.The Offering will be conducted by the Company utilizing the Existing Security Holder Prospectus Exemption under OSC Rule 45-501 Ontario Prospectus and Registration Exemptions and other equivalent provisions of applicable securities laws in other jurisdictions in Canada (collectively, the \"Existing Security Holder Exemptions\") as well as the \"accredited investor\" exemption under National Instrument 45-106 Prospectus and Registration Exemptions and also other exemptions available to the Company.The Company will make the Offering available to all shareholders of the Company as of July 3, 2020 (the \"Record Date\") who are eligible to participate under the Existing Security Holder Exemptions and who have notified the Company by no later than July 24, 2020 at 5:00 pm (Eastern) of their intention to participate in the Offering. The Existing Security Holder Exemptions limit a shareholder to a maximum investment of $15,000 unless the shareholder certifies in the subscription agreement that he or she has obtained advice regarding the suitability of the investment from a registered investment dealer or otherwise qualifies to rely on another private placement exemption....

More updates from West Point Gold Corp.