Aurelio Redeems 10% Convertible Debentures with Cash Payment & Completes the View Sites LLC Land Acquisitionadmin
Aurelio Resource Corporation report that it has repaid in full the $1.5 million aggregate principal amount of the 10% Convertible Debentures issued in February 2008 and due in June 2009.
Repayment of the Debentures was made in cash at face value plus all accrued and unpaid interest, and was made in accordance with the terms of the Debentures. During the term of the Debentures, the Debenture Holders received 10% annual interest payments in quarterly cash installments.
“The redemption of the Debentures eliminates potentially significant dilution associated with the possible equity conversion of the Debentures, and signals management’s continual commitment to enhance the value of Aurelio,” states Steve Doppler, President & CEO. “With this behind us, we are focusing on rapid completion of the Bolsa stock sales agreement, exploration plans at our Gavilanes gold project, and aggressive pursuit of new opportunities.”
Aurelio is also pleased to report completion of the previously announced agreement to acquire 20 patented mining claims in southeast Arizona within the Turquoise Mining District from View Sites LLC. These claims incorporate projected southwestern extensions of the MAN Area copper-zinc-silver-gold sulfide mineralization, as well as the southwestern continuation of the leachable oxide copper and chalcocite copper deposits overlying the MAN Area sulfide zone.
Aurelio Resource Corporation has previously announced an independent estimate of the mineralized material at the MAN Area of the Hill Copper-Zinc Project totaling 63.8 million tons at an average grade of 0.56% copper-equivalent. Aurelio has also acquired the rights to explore, and an option to purchase, the Gavilanes gold porphyry deposit in Durango, Mexico.
For additional information, please visit www.AurelioResource.com.