Auxico Closes Private Placement

MONTREAL, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Auxico Resources Canada Inc. (CSE: AUAG) (NEX London: AUAG) is pleased to announce that it has completed a non-brokered private placement of 1,575,000 units ("Units"), issued at a price of $0.20 per Unit, for gross proceeds of $315,000. Each unit consists of one common share (a "Share") and one-half transferable common share purchase warrant ("Warrant"). Each full Warrant entitles the holder to acquire one additional Share of the Company at a price of $0.40 per Share for two years from the date of issuance.

No finder's fees were paid in connection with the private placement. All Shares issued pursuant to the private placement are subject to a four-month hold period in Canada. 

The net proceeds of the private placement will be used for geological work on the Company's mining interests in Colombia and the Zamora Property in Mexico, as well as for general working capital purposes. More specifically, Auxico is presently evaluating coltan and gold opportunities in Colombia.

ON BEHALF OF THE BOARD OF DIRECTORS

About Auxico Resources Canada Inc.

Auxico Resources Canada Inc. ("Auxico") is a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Mexico.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.