AuEx Ventures, Inc. Closes $11 Million Private Placement


AuEx Ventures, Inc. announced that, further to its news releases dated May 19, 2009 and June 12, 2009, the Company has completed a brokered private placement of 5,000,000 Units at a price per Unit of $2.20 for gross proceeds of $11,000,000. Each Unit consists of one common share in the capital of the Company and one-half of one non-transferable share purchase warrant, each whole warrant entitling the holder thereof to acquire one additional common share in the capital of the Company at a per share price of $2.75 for the first year and $3.30 for the second year from closing the private placement. In the event that the volume weighted average trading price of the common shares of the Company trades at or above $4.12 per share within 20 consecutive trading days in the period commencing four months after the closing date and up to 12 months after the closing date or above $4.95 per share thereafter, the Company will have the right to accelerate the expiry date of the share purchase warrants to the date which is 30 days after notice is given to the holders of the Warrants of the accelerated expiry date. All securities issued are subject to a four month hold period until October 17, 2009.

Haywood Securities Inc. and Dundee Securities Corporation acted as underwriters for the private placement. The Company paid a commission to the underwriters as follows: (i) $463,100 in cash; and (ii) 139,500 Units.

Proceeds of this private placement will be used by the Company for funding its participating interest in the Long Canyon Venture, maintenance and exploration of projects, acquisitions, and general working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an 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 Company is a precious metals exploration company that has a current portfolio of twenty one exploration projects in Nevada, five projects in Argentina and one project in Spain. The Company controls about 176,000 acres of unpatented claims and fee land in prospective areas of Nevada. Nine of the projects are in exploration earn-in or formal joint venture agreements with four companies who provide exploration funding. The Company applies the extensive exploration experience and high-end technical skills of its founders to search for and acquire new precious metal exploration projects that are then offered for joint venture.

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