|August 02, 2012|
Company Closes $877,000 Private Placement
|August 2, 2012, Vancouver, BC - (CNSX:ARO) Les Kjosness, President & CEO is pleased to report the private placement announced on July 27, 2012 has closed in accordance with CNSX policy. The Company will issue 17,740,000 units at a price of $0.05 per unit, for the gross value of Cdn. $887,000. Each unit will consist of one common share and one purchase warrant. Each warrant entitles the holder to purchase an additional common share of the Company at an exercise price of $0.10 per share for a period of one year. There will be a company insider created from this private placement. |
A 7% finder's fee is payable in 119,000 common shares in connection with some or all of this private placement. A percentage of these funds was apportioned to pay the taxes and to develop our properties in Brazil and for general corporate use.
On behalf of the Board,
President and Director
For further information:
Les Kjosness: 604-408-6500
Kirsti Mattson: 778-434-2241 Media
The CNSX has neither approved nor disapproved of the accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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