Business
Aura Resources Provides Corporate Update and Announces Private Placement Financing
Ottawa, Ontario--(Newsfile Corp. - March 14, 2019) - Aura Resources Inc. (TSXV: AUU) ("Aura" o...
About this update from West Point Gold Corp.
[{"type":"text","content":"Aura Resources Provides Corporate Update and Announces Private Placement FinancingOttawa, Ontario--(Newsfile Corp. - March 14, 2019) - Aura Resources Inc. (TSXV: AUU) (\"Aura\" or the \"Company\") is pleased to provide an update on the progress of its corporate initiatives and announces the initiation of a private placement financing.CORPORATE UPDATEManagement and Board of Director Changes CompletedDuring May and June of 2018, the Company announced changes in the executive management and board of directors of the Company. Mr. Robert Johansing, M.Sc. Econ. Geol., P. Geo., was appointed as President and Chief Executive Officer and a director of the Company. Mr. Johansing has over 40 years of experience as a mining and mineral exploration geologist. Following his appointment, Mr. Johansing and the board of directors completed an evaluation of the Company's mineral property portfolio and overall strategy leading to the initiatives detailed below.New Project Acquired - Gold Chain Project, ArizonaDuring July 2018, Aura acquired the Gold Chain project in western Arizona in order to diversify the Company's mineral property portfolio. Since this time, Aura has since expanded its land position from 86 to 100 unpatented claims. The Company plans to commence field work in spring 2019 focusing on the known gold-bearing stockwork and breccia zones outlined in Press Release #18-09 (July 30, 2018).Share Consolidation and Name Change CompletedDuring November 2018, the shareholders of the Company approved a name change to Aura Resources Inc. and consolidation of the common shares of the Company that has resulted in 27,490,128 common shares being outstanding. The share consolidation was implemented with the objectives of having the Company's share price trade in a range above $0.05 per share and to offer a tight capital structure to prospective investors in the Company.East Taviche Project, Mexico - Minaurum Gold New OperatorDuring January 2019, the Company entered into a definitive agreement with Minaurum Gold Inc. whereby Minaurum acquired an 80% interest in the Taviche, Mexico project. This transaction transfers operation of this exciting silver-gold bearing epithermal system to an experienced and well financed operator in Mexico (see Press Release #19-01; January 29, 2019) to ensure continued advancement of the project.Greyhound Project, Nunav...