AuRo Resources Corp. Announces Share Consolidation and Name Change
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 23, 2013) - AuRo Resources Corp. (the "Company") (TSX VENTURE:ARU) announces that as of the TSX Venture Exchange ("TSX-V") market open on Monday, August 26, 2013, the Company will consolidate its outstanding common shares on a basis of one new common share for every ten old common shares. The 10 to 1 share consolidation was approved by the shareholders of the Company at the Company's annual general and special meeting of shareholders held on January 3, 2013.
As a result of the share consolidation, the number of issued and outstanding common shares will be reduced from 84,316,703 to approximately 8,431,670.
The Company is also pleased to announce that it has received TSX-V acceptance and has officially changed its name to Tesoro Minerals Corp. The name change was approved by the directors of the Company on August 8, 2013 pursuant to the Articles of the Company and was implemented as part of a renewal process under new management.
Trading under the new name "Tesoro Minerals Corp." will commence on the TSX-V at the opening of trading on August 26, 2013 under TSX-V symbol "TES" (CUSIP 88160V102; ISIN CA 88160V1022).
Letters of transmittal describing the details of the share consolidation and the process by which shareholders obtain actual share certificates representing the consolidated common shares will be mailed out to registered shareholders of the Company. Registered shareholders may also obtain copies of the letter of transmittal by contacting the Company's transfer agent, Computershare Investor Services Inc.
Shareholders who hold their shares through their broker or other intermediary and do not have actual share certificates registered in their name will not be required to complete and return a letter of transmittal. Any pre-consolidation common shares owned by such shareholders will automatically be adjusted as a result of the share consolidation to reflect the applicable number of post-consolidation common shares owned by them and no further action is required to be taken by such shareholders. No fractional common shares will be issued as a result of the consolidation. Any fractional common share arising from the consolidation comprising less than one-half of one common share will be rounded down to the nearest whole common share. Any fractional common share arising from the consolidation comprising greater than or equal to one half of one whole common share will be rounded up to the nearest whole common share.
About AuRo Resources Corp.
AuRo Resources Corp. is a mineral exploration company with major land positions in three of Colombia's most prolific gold regions including Antioquia, Tolima-Quindio, and Santander-Norte de Santander. AuRo shares trade on the TSX Venture Exchange under the symbol ARU.
On Behalf of AuRo Resources Corp.
Peter Tegart, President and CEO
Neither the 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.
