ROAD TOWN, British Virgin Islands, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (ORA.TO) today announced a consolidation (the “Consolidation”) of its common shares (the “Shares”) on the basis of one new Share for ten old Shares, effective December 31, 2018 (the “Effective Time”). The Company’s consolidated common shares are expected to begin trading on the Toronto Stock Exchange (“TSX”) when the markets open on January 4, 2019.
Aura is proposing the Consolidation in order to gain greater exposure to additional institutions that are not permitted or willing to trade equity stocks below a certain threshold. Aura believes the Consolidation will increase its liquidity.
Each ten (10) Shares issued and outstanding at the Effective Time (being the record date) will be consolidated into one (1) Share. The Consolidation will affect all of the Company’s Shares outstanding at the Effective Time.
As a result of the share consolidation, the number of issued and outstanding Shares will be reduced from 43,377,336 to 4,337,733 (subject to fractional treatment). Each shareholder’s percentage ownership in the Company and proportional voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of fractional shares.
The new CUSIP number for the post-Consolidation common shares will be G06973 112 and the new ISIN number will be VGG069731120. No fractional shares will be issued as a result of the Consolidation and all fractional interests will be rounded down to the nearest whole number of shares.
Registered shareholders of the Company will receive a letter of transmittal (the “LT”) from the Company's transfer agent, TSX Trust Company, as soon as practicable after the Effective Date. The LT will enable registered shareholders to exchange their old share certificates representing pre-Consolidation Shares for post-Consolidation Shares. Until surrendered, each share certificate representing pre-Consolidation Shares will represent the number of whole post-Consolidation Shares to which the holder is entitled as a result of the Consolidation.
Shareholders who hold their common shares in brokerage accounts or in “street name” are not required to take any action to effect the exchange of their Shares.
The listing of the post-Consolidated Shares is subject to the final approval of the TSX.
About Aura 360° Mining
Aura is focused on mining in complete terms – thinking holistically about how our business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.
Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company's producing assets include the San Andres gold mine in Honduras (operations currently suspended), the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. The Company continues to explore options at Sao Francisco to determine if a re-start of the mine is feasible. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.
For further information on Aura, please visit Aura’s web site at www.auraminerals.com or contact:
VP, Legal Affairs and Business Development
This press release contains "forward-looking information" and "forward-looking statements", as defined in applicable securities laws (collectively, "forward-looking statements") which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, expectation with respect to the Consolidation and liquidity. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved.
Known and unknown risks, uncertainties and other factors, many of which are beyond the Company's ability to predict or control could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, copper and gold or certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.
All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.