Private placement increase, debt settlement, sale of Mexican subsidiary closes


Private Placement Increase

Auramex (the “Company”) announces it will increase the non-brokered private placement of 5,000,000 units at a price of $0.08 announced January 24, 2018 by 4,625,000 shares for gross proceeds of $770,000.  Each unit is comprised of one common share and one common share purchase warrant.  Each warrant is exercisable at a price of $0.10 for each common share for a period of two years after closing of the placement. The proceeds will be allocated $300,000 to exploration, $270,000 to debt settlement and $200,000 to working capital.

The Offering is subject to approval of the TSX Venture Exchange.

Company Arranges Shares for Debt Settlement

The Company announces that its Board of Directors has approved a proposed shares for debt settlement (the “Shares for Debt Settlement”) with certain creditors, providing for the settlement of an aggregate of $241,100 in debt through the issuance of an aggregate of 3,013,750 common shares of the Company at an issue price of $0.08 per common share.

The Shares for Debt Settlement is subject to approval of the TSX Venture Exchange.

Sale of Mexican Subsidiary

The option to sell Exploración Auramex S.A. de C. V.to a private company announced December 5, 2017 has been completed.  The Company received $5,000 cash and indemnity from all liabilities in Mexico amounting to approximately $250,000.  In addition, the Company is to receive 100,000 shares in a reporting issuer when the private company transfers its interest in the Mexican mineral titles to a reporting issuer.  It is understood that some of the mineral titles have been cancelled and it may not be possible to reinstate them.

About Auramex

Auramex holds 190 square kilometers of mineral rights in BC’s Golden Triangle. The Georgia River property surrounds a past producing gold mine near tidewater, 18 km south of Stewart; the Tide North property is 4 km from an all-weather road; and the Bear Valley properties straddle highway 37A north and east of Stewart.

For information on Auramex please contact Judie Whitby at (604) 924-9376 or refer to the company’s website: www.auramex.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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