- Aloro Mining (AORO) announced a non-brokered private placement financing for gross proceeds of up to $500,000
- Aloro intends to use the proceeds for exploration work, including drilling on its recently acquired Quitovac Mine Project and for general working capital purposes
- Aloro Mining is a Canada-based gold exploration company
- It controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora Megashear in Mexico
- Aloro Mining Corp. (AORO) opened trading at C$0.045 per share
Aloro Mining (AORO) announced a non-brokered private placement financing for gross proceeds of up to $500,000.
The company plans to issue up to 10,000,000 units at $0.05 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional share at $0.15 for two years from the closing date.
Aloro intends to use the proceeds for exploration work, including drilling on its recently acquired Quitovac Mine Project and for general working capital purposes.
The company may pay finder’s fees in connection to this offering. Insiders may also participate in the financing.
All securities issued will be subject to a statutory hold period of four months.
About Aloro Mining
Aloro Mining is a Canada-based gold exploration company. It controls the 2,643.82-hectare Quitovac Mine Project located in the prolific Mojave-Sonora Megashear in Mexico.
The company also controls the 3,199- hectare Los Venados Project, which is located in the central part of the Mulatos Gold District. It is directly adjacent to the active Mulatos open pit mine of Alamos Gold Inc. The Los Venados is under US $5,000,000 Option agreement to Alamos Gold Inc.
Aloro Mining Corp. (AORO) opened trading at C$0.045 per share.