WILMINGTON, Del., April 17, 2012 /PRNewswire/ -- Auric Mining
Company (OTC: AUMY.PK) announced today that it had secured an asset
backed $20,000,000 Financial
Guarantee commitment thereby facilitating and increasing the
potential scope of the Company's recently announced acquisition and
partnership initiatives. Negotiations are currently underway with
respect to the completion of this commitment and the addition of
further commitments.
The Company expects that the guarantees will be in place in
place shortly and will then be in a position to announce completion
of specific acquisitions and/or partnerships that are currently
under review.
The Company had recently announced that, based on the respected
precious metal reports that set gold price targets at $2,000 by 2013, it had substantially increased
its revenue projections for its gold producing projects currently
under development. Additionally, the Company has announced that it
will be focusing increased resources at its acquisition and
partnership initiatives. The Financial Guarantee commitment
permits the Company to ramp-up its gold mine acquisition
initiatives.
In anticipation of new growth opportunities and as a loyalty
benefit to all shareholders, the Board of AUMY has recently
announced that it has voted to pay all shareholders on record a 3%
stock dividend. 3 new Auric Mining shares will be issued for every
100 owned.
The Company will continue to provide regular updates regarding
progress and developments of its new business model.
About Auric Mining Co.
Auric Mining is an investment and management enterprise that
acquires and operates profitable energy companies with strong
historical cash-flow and sustainable profitability. As part of its
new growth initiative, the Company plans to acquire sector-specific
technology and assets to be integrated into existing and future
operations. Auric's primary business strategy is the acquisition of
diverse, profitable energy related assets that provide synergistic
profits and revenue enhancements across all portfolio
companies.
The Company has developed and maintains an extensive database of
private and public natural resources companies which have
substantial resources already proven. The Company is constantly
seeking acquisition opportunities with significant exploration
upside through purchase, joint venture or investment. With
unparalleled instincts for successful mineral projects, a
field-oriented management style and a flat organizational
structure, the Company has an ability to concentrate its financial
assets, human resources and field efforts to provide timely
decisions and a continued focus on the most prospective targets.
The company has a number of claims strategically located in this
historic mining district. The Company believes its combination of
profitability and mitigated-risk funding structures provides
long-term shareholder equity appreciation. For more
information please visit the company's website at
www.auricminingcorp.com.
Forward-looking Statements
This news release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995 -
forward-looking statements concerning plans, objectives, goals,
strategies, future events of performance and underlying assumptions
and other statements which are other than statements of historical
facts. These statements are subject to uncertainties and risks
including, but not limited to, product and services demand and
acceptance, changes in technology and in economic, political and
regulatory conditions and to all of the risks generally associated
with a company at Auric Mining's stage of development. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the company, are expressly qualified by
these cautionary statements. In addition, the Company disclaims any
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
For more information contact:
Auric Mining Company
General Inquiries: 302-336-9736
Investor Relations: 302-269-3859
Email: info@auricminingcorp.com
SOURCE Auric Mining Company