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Message: Announces $11 Million Private Placement
| May 19, 2009 |
| AuEx Ventures Announces $11 Million Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2009) - THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES AuEx Ventures, Inc. ("AuEx" or the "Company") (TSX:XAU) plans to raise up to $11,000,000 from a brokered private placement financing from the sale of up to 5,000,000 units at a price of $2.20 per unit. Each unit will consist of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional share in the capital of the Company at a price of $2.75 per share for the first year and $3.30 for the second year from closing the private placement. In the event that the volume weighted average trading price of the common shares of the Company trades at or above $4.12 per share within 20 consecutive trading days in the period commencing four months after the closing date and up to twelve months after the closing date or above $4.95 per share thereafter, the Company will have the right to accelerate the expiry date of the share purchase warrants to the date which is 30 days after notice is given to the holders of the warrants of the accelerated expiry date. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval. The agents for the private placement will be Haywood Securities Inc. and Dundee Securities Corporation. A commission will be paid to the agents. Proceeds of this private placement will be used by AuEx for funding its participating interest in the Long Canyon Venture, maintenance and exploration of existing projects and general working capital purposes. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. AuEx Ventures, Inc. is a TSX listed precious metals exploration company that has a current portfolio of twenty one exploration projects in Nevada, one project in Spain and two projects in Argentina. The Company controls about 176,000 acres of unpatented mining claims and fee land in Nevada. Eleven of the projects are in joint venture or exploration earn-in agreements with five companies. The Company applies the extensive Nevada exploration experience and high-end technical skills of its founders to search for and acquire new precious metal exploration projects that are then offered for joint venture. AuEx Ventures, Inc. Ronald Parratt, President |
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