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Aurelius Minerals ( ($TSE:AUL.H) ) has issued an update.
Aurelius Minerals has received a partial revocation of the failure-to-file cease trade order imposed in 2023 after it missed key audited financial and disclosure filings for its 2022 fiscal year. Trading in its shares remains halted, but the decision allows the company to pursue a targeted financing to address its disclosure backlog and stabilize operations.
The company plans to raise up to $830,000 through secured promissory notes bearing interest at CORRA plus 5%, with a one-year term and security over all shares of its Aureus Gold subsidiary. The debt deal, to be completed on a prospectus-exempt basis and involving certain related parties under MI 61-101, is intended to fund the completion of outstanding filings, pay professional fees and administrative expenses, and support ongoing operations ahead of a potential full revocation of the cease trade order.
More about Aurelius Minerals
Aurelius Minerals Inc. is a Canadian mineral exploration and development company listed on the NEX board of the TSX Venture Exchange. The company operates through subsidiaries including Aureus Gold Inc., focusing on advancing its gold assets while navigating regulatory and financing challenges in the junior mining sector.
Technical Sentiment Signal: Sell
Current Market Cap: C$995.7K
For an in-depth examination of AUL.H stock, go to TipRanks’ Overview page.