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December 10, 2012 | Orex And Astral Announce Signing Of Arrangement AgreementRead more...
Vancouver, British Columbia – December 10, 2012 – Orex Minerals Inc. (TSX-V: REX) (“Orex”) and Astral Mining Corporation (TSX-V: AA) (“Astral”) announce that further to their joint press release dated October 15, 2012, they have entered into an arrangement agreement ("Ar...
October 15, 2012 | Orex And Astral Announce Merger By Way Of Plan Of ArrangementRead more...
Vancouver, British Columbia – October 15, 2012 – Orex Minerals Inc. (TSX-V: REX) (“Orex”) and Astral
Mining Corporation (TSX-V: AA) (“Astral”) announce that they have agreed to merge and form a combined
gold and silver exploration and development company, which will ...
Fri, Aug 3,2012 | Astral Announces Private Placement Of Convertable NotesRead more...
Vancouver, British Columbia – August 3, 2012 - Astral Mining Corporation (AA.TSXV) (“Astral” or the “Company”) announces that it has arranged a further $50,000 private placement of convertible notes. The private placement will include insider participation as to $40,000...
Thu, Mar 8, 2012 | Astral Amends Barriere Ridge Option AgreementRead more...
Astral Amends Barriere Ridge Option Agreement Vancouver, British Columbia – March 8, 2011 - Astral Mining Corporation (AA.TSXV) (“Astral” or the “Company”) has entered into an amending agreement with David James Piggin dated March 6, 2012 (“the Amending Agreement”) tha...
Wed, Feb 1, 2012 | Astral Announces Final Results from Drilling at the Los Crestones Gold Discovery in the Sierra Madre Gold-Silver Belt, MexicoRead more...
Vancouver, BC - Astral Mining Corporation (TSX-V AA, AA.WT) ("Astral" or "the Company") is pleased to report the third and final batch of results from drilling at the Los Crestones property, Sinaloa state, Mexico. Highlights from Phase One drilling include previously announced...
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|Fri, Aug 3,2012 | Astral Announces Private Placement Of Convertable Notes|
Vancouver, British Columbia – August 3, 2012 - Astral Mining Corporation (AA.TSXV) (“Astral” or the “Company”) announces that it has arranged a further $50,000 private placement of convertible notes. The private placement will include insider participation as to $40,000.
The private placement will consist of convertible notes, structured as a secured, interest-bearing loan of $50,000, which has been advanced to the Company. The term of the loan will be for two years, following receipt of all required regulatory approvals. The lenders may convert at any time all or a portion of the principal amount outstanding under the loan into common shares of Astral at a conversion price of $0.10 per common share. The lenders will also have the right to convert all or any portion of the accrued interest on the loan into common shares of Astral at the market price of Astral’s common shares at the time of conversion. Astral may, at its option, repay all or any of part of the principal amount outstanding under the loan, without bonus or penalty, subject to the requirement that Astral give notice to the lenders that the lenders may elect within 10 business days to convert all or any portion of the loan into common shares. The loan agreement will contain provisions related to default by Astral and remedies available to the lenders. Astral will pay interest to the lenders at the rate charged by the lenders bank or the Company’s financial institution, plus 400 basis points. The loan will accrue interest to the date of repayment and will be calculated monthly on the last day of the month.
In consideration of the loan, the Company has agreed to issue to the lenders share purchase warrants entitling them to purchase up to a total 500,000 common shares of the Company exercisable for two years from the date of the convertible note at a price of $0.10 per common share. The share purchase warrants will be detachable from the convertible note.
The convertible notes and issuance of the share purchase warrants are subject to the acceptance of the TSX Venture Exchange.
The loan funds are for exploration of Astral’s Los Crestones property and for general working capital.
Astral Mining Corporation is a Canadian company engaged in the exploration and development of precious metal properties in the Americas. By focusing on exploration in mining-friendly districts, the Company minimizes the political and social risks encountered in many other parts of the world. With a new gold discovery at the Company's Jumping Josephine Gold Project in Southern British Columbia, the promising early stage Los Crestones gold-silver project in Sinaloa state, Mexico, an experienced technical team and seasoned management, Astral is poised to leverage this expertise into early exploration success. Further details on Astral Mining Corporation and its high-quality portfolio of exploration projects can be found at www.astralmining.com.
ON BEHALF OF THE BOARD
“Manfred Kurschner" Mr. Manfred Kurschner,
President & CEO Astral Mining Corporation
further information on Astral please contact Manfred Kurschner,
President & CEO, at (604) 569-0800, or by email
This e-mail address is being protected from
Company's web site at http://www.astralmining.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.