|By Marketwired .||
|August 13, 2014 05:25 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/13/14 -- AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE:AGO) is pleased to announce it has engaged Toutalee Inc. as an investor relations consultant to assist the Company in its communication efforts and to increase awareness of its Richardson Lake gold discovery in the Birch-Uchi belt of the Red Lake mining division.
The principal of Toutalee Inc. is Wally Brooks. Wally worked for the TSE from 1958 to 1961, was a trader for S.J. Brooks and Company (member of the TSE) and was a broker for numerous years lastly with Canaccord in Vancouver. Wally was a consultant for the Murray Pezim group of companies for ten years before returning to Toronto to become a vice president and director of Noble Mineral Exploration Inc. Wally provides investor relations services through Toutalee Inc. Aurcrest has granted Toutalee Inc. 200,000 options exerciseable for two years at $0.10 as consideration for the investor relations services. Toutalee Inc. is headquartered in Toronto. Toutalee Inc. has no interest in the securities of AurCrest other than the options.
The Company also wishes to announce that a further 1,970,000 options to purchase common shares of AurCrest at $0.10 per share for five years have been granted to six (6) directors (1,025,000), three (3) executive officers (625,000) and four (4) consultants (320,000).
The appointment of the investor relations consultant and the option grants are subject to acceptance by the TSX Venture Exchange.
The Company also wishes to announce that it placed a further 700,000 working capital units through two tranches of the non-brokered private placement announced in its Press Release dated July 8, 2014, for aggregate proceeds of $35,000. The tranches closed on August 5, 2014 and August 11, 2014 and the securities issued are subject to hold periods expiring on December 6, 2014 and December 12, 2014 respectively. The Company has received subscriptions for further proceeds of $53,000 and intends to close on the final tranche of 1,060,000 working capital units on Friday, August 15, 2014. The Company raised an aggregate of $300,000 pursuant to the financing originally announced on July 8, 2014.
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither 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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