Le Lézard
Classified in: Mining industry
Subject: MERGERS AND ACQUISITIONS (M&A)

Aura Minerals Completes Sale of Serrote for US$40 Million


ROAD TOWN, British Virgin Islands, March 22, 2018 (GLOBE NEWSWIRE) -- Aura Minerals Inc. ("Aura Minerals" or the "Company") (TSX:ORA) is pleased to announce that it has completed the previously announced sale of Mineração Vale Verde Ltda, ("MVV") which owns the Serrote da Laje Copper Gold project in Brazil, for an aggregate consideration of US$40 million.

Pursuant to closing conditions, a cash payment of US$30 million has been paid to Aura, as well as delivery of a subordinated unsecured note in the principal amount of US$10 million. 

Rodrigo Barbosa, President and CEO of Aura Minerals commented "We wish the purchasers, being advised by Appian Capital Advisory LLP, and all other stakeholders, success in the development and operation of Serrote, a first-class project".

About Aura Minerals

Aura Minerals 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 has producing assets in Brazil and Honduras and a copper mine in Mexico under care & maintenance.

About Appian Capital Advisory LLP

Appian Capital Advisory LLP is a leading investment advisor in the metals and mining industry, with worldwide experience across South America, North America and Africa and a track record of successfully supporting companies achieve their development targets.

For further information, please visit Aura Minerals' web site at www.auraminerals.com or contact:

Ryan Goodman
VP, Legal Affairs and Business Development
305-239-9332
[email protected] 

Cautionary Note

This news release contains certain "forward-looking information" and "forward-looking statements", as defined in applicable securities laws (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. Forward-looking statements relate to future events or future performance and reflect the Company's current estimates, predictions, expectations or beliefs regarding future events and include, without limitation, statements with respect to the subordinated unsecured note in the principal amount of US$10 million (the "Note").  Often, but not always, forward-looking statements may be identified by the use of words such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. 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, the ability of the parties to satisfy the payment of the Note, gold and copper 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.


These press releases may also interest you

at 12:50
Global sales of electric vehicles (EVs) increased from 716,000 vehicles in 2015 to 10.6 million vehicles in 2022. Meanwhile, demand rose for the materials used in EV batteries such as graphite, cobalt and lithium. As demand jumps for these critical...

at 12:30
The "Global Architectural Metal Coatings Market by Resin Type (Polyester, Fluoropolymer), Coil Coating Application (Roofing & Cladding, Wall Panels & Facades), Extrusion Coating Application (Curtain Walls, Store Front) and Region - Forecast to 2028"...

at 11:57
World 50 Group, the global community of business leaders from the most respected and influential companies, is delighted to announce the winners of the 2024 Inclusion & Diversity (I&D) Impact Awards. Now in its second year, the I&D Impact Awards...

at 11:45
GREAT ATLANTIC RESOURCES CORP. (the "Company" or "Great Atlantic") is pleased to announce it has completed geophysical surveys at its Keymet Precious Metal - Base Metal Property, located in northeast New Brunswick.The geophysical...

at 11:00
RS, a trading brand of RS Group plc (LSE: RS1), a global provider of product and service solutions for industrial customers, offers an extensive portfolio of electrical and electronic products engineered to help...

at 10:46
FullCare Medical has launched a new medical garment production facility in Tatu City, the 5,000-acre mixed-use Special Economic Zone (SEZ) in Kenya....



News published on and distributed by: