TORONTO, ON / ACCESSWIRE / February 19, 2016 / Augustine Ventures Inc. (CNSX: WAW) ("Augustine" or the "Company") is announces it has negotiated debt financing of $25,000 evidenced by a promissory note (the "Note"). The Note is interest bearing at 8% per annum calculated and payable on the first day of each month, due in full on February 19, 2017 (the "Due Date") and secured by general security agreements in favour of the lender.
The Note in the amount of $25,000 is being held by an investor, Margaret Wade, who is related to Dr. Robert Dodds, the President and Chief Executive Officer of the Company.
The funds raised through the debt financing will be used primarily for exploration expenditures at the Wawa Gold Project and for general administrative purposes.
About Augustine Ventures Inc.
Augustine Ventures Inc. is a junior gold exploration company headquartered in Toronto, Ontario, Canada. The Company's common shares trade on the CSE under the symbol "WAW".
Augustine has a 30% interest in the Wawa Gold Project and has entered into a Joint Venture Agreement ("JVA") with Citabar LLP and Red Pine Exploration Inc. The Wawa Gold Project is now owned by Citabar/Red Pine/Augustine in the ratio of 40%, 30% and 30%, respectively.
The Wawa Gold Project has a NI 43-101 inferred resource of 1,088,000 ounces of gold at a 1.71 grams per tonne (g/t) using a 0.40 g/t gold cut-off grade for pit-constrained and 2.50 g/t gold cut-off grade for underground-constrained resources (overall cut-off grade of 0.5 g/t), contained in 19.82 million tonnes, open along strike and at depth.
For additional information contact:
Augustine Ventures Inc. Robert (Bob) Dodds, President & CEO Cell: (905) 599-2025 Email: bdodds@augustineventures.com Or visit our website at www.augustineventures.com
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