Aura Announces Plans for Initial Public Offering and Listing in Brazil

ROAD TOWN, British Virgin Islands, March 03, 2020 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA) (“Aura” or the “Company”) is pleased to announce that the Company has filed a draft of a preliminary prospectus and draft of a Formulário de Referência with the Brazilian Securities Commission (Comissão de Valores Mobiliários, or the “CVM”) for the purposes of completing an initial public offering (the “Offering”) in Brazil and concurrent listing of Brazilian depositary receipts (“BDRs”) on B3 S.A. – Brasil, Bolsa, Balcão (the “B3”). Each BDR shall represent an interest in an underlying share in the capital of Aura to be held by a custodian.

The shares underlying the BDRs will be comprised of a combination of (i) shares to be issued by Aura and (ii) shares to be sold by selling shareholder(s). The Offering will be directed to:

• the public in Brazil, pursuant to the CVM Instruction 400; and 
• “Qualified Institutional Buyers” in the United States as permitted under Rule 144A of the United States Securities Act of 1933, as amended (the “Securities Act”) and outside the United States in reliance on Regulation S under the Securities Act.

The issue price and size of the Offering will be determined by considering investment intentions expressed by institutional investors during the book-building process.  Aura expects to complete the Offering sometime in April 2020.

Aura expects to use the net proceeds of the Offering to fund  (i) continuous development, maintenance and expansion of the Company's operating assets; (ii) exploration and development of projects that are not yet operational; and (iii) reinforcement of the Company's capital structure.

Aura’s shares will continue trading on the Toronto Stock Exchange (“TSX”) under the symbol “ORA” and listing of the shares underlying the BDRs on the TSX will be subject to the approval of the B3 and the TSX.

THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. THE SECURITIES BEING OFFERED HAVE NOT BEEN, NOR WILL THEY BE, REGISTERED UNDER THE SECURITIES ACT, AND SUCH SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES ABSENT REGISTRATION UNDER THE SECURITIES ACT OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREUNDER.