Aura Minerals Announces Strategic Investment and Filing of Early Warning Report Regarding Altamira Gold Corp.

ROAD TOWN, British Virgin Islands, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX: ORA, B3: AURA33 and OTCQX: ORAAF) (“Aura” or the “Company”) announced that it has today entered into a subscription agreement (the “Subscription Agreement”) with Altamira Gold Corp. (the “Issuer” or “Altamira”) pursuant to which it acquired, in a non-brokered private placement (the “Private Placement”), 24,000,000 units of the Issuer (“Units”) at a price of C$0.125 per Unit for an aggregate purchase price of C$3,000,000. Each Unit consists of one common share (each, a “Share”) and one common share purchase warrant (each, a “Warrant”) of the Issuer. Each Warrant is exercisable to acquire one Share of the Issuer at an exercise price of C$0.20 per Share for a period of two years from the date hereof.

Prior to entering into the Subscription Agreement, Aura did not own, directly or indirectly, any securities of the Issuer. Immediately upon the closing of the Private Placement, Aura holds 24,000,000 Shares and 24,000,000 Warrants, representing approximately 11.35% of the issued and outstanding Shares on a non-diluted basis and approximately 17.00% of the issued and outstanding Shares on a fully diluted basis. Aura acquired the Units directly from the Issuer in the Private Placement and not through the facilities of any stock exchange or other marketplace.

Aura is acquiring the Units for investment purposes given the exploration potential of Altamira. Aura may, from time to time and depending on the market and other conditions, acquire additional securities of the Issuer, dispose of some or all of the existing or additional securities it holds or will hold, or may continue to hold its current position, depending on market conditions, reformulation of plans and/or relevant factors.

For additional information on Altamira, readers are encouraged to visit: https://altamiragold.com/. Altamira’s head office is located at Suite 1500 409 Granville St., Vancouver, British Columbia, V6C 1T2.

This press release is issued pursuant to National Instrument 62-103 —The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also require a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will be filed with the Issuer’s documents on the SEDAR+ website at www.sedarplus.com.