ALORO MINING CORP. – (the “Company” or “Aloro”) is pleased to announce that, that further to its News Release of March 15, 2019, it has received approval from the TSX Venture Exchange (the “Exchange”) to the issuance of 1,027,500 common shares (each, a “Share”) in settlement of $102,750 in management and director fees (the “Debt Settlement”), which Shares were issued on March 29, 2019. The Shares are subject to a statutory hold period expiring on the date that is four months and one day after the closing of the Debt Settlement.
Each of Thomas Doyle, Logan Anderson, Greg Burnett and James Carter participated in the Debt Settlement and are considered to be a “related party” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and each issuance is considered to be a “related party transaction” within the meaning of MI 61-101 but each is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares to be issued to each related party does not exceed 25% of the Company’s market capitalization.
About Aloro Mining Corp.
Aloro controls the 3,199 hectare Los Venados Project, which is located in the central part of the Mulatos Gold District. The western property boundary is shared with Agnico Eagle Mines Limited where it operates the La India open pit mine, and it is directly adjacent to the active Mulatos open pit of Alamos Gold Inc. to the south. The known mineralization within the Mulatos District is gold-dominant, with accessory silver and copper.
|ALORO MINING CORP.|
Per: “Thomas A. Doyle”
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Neither 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.