Aura Energy Limited (ASX: AEE; AIM: AURA) (Company) is pleased to advise that it has completed a placement of 105,416,664 shares to sophisticated/institutional investors at an issue price of 0.45 cents per share to raise approximately $474,375 (before costs).

Aura Energy's London AIM broker SP Angel assisted with the capital raising. The raising was conducted with both existing and new shareholders.

Aura has four distinct activities progressing steadily despite the tough conditions in the market. The Tiris DFS remains poised for execution, the Haggan Scoping Study is complete allowing corporate transactions, the gold assets are attracting good corporate interest and the compensation action in Sweden is progressing well. These all impute strong value within the company and these funds will allow progression of some of these areas to the next stage', Mr Peter Reeve, Aura's Executive Chairman said.

Placement

The Placement was undertaken at 0.45 cents per Placement Share.

Subscribers to the Placement will also receive 1 free attaching option for every two Placement Shares subscribed with each option exercisable at 0.8 cents and expiring two years from the date of issue.

The Placement Shares will rank equally with existing ordinary shares. The Placement Shares do not require shareholder approval as the Company will utilise its existing placement capacity under ASX Listing Rules 7.1. The options will require approval at a shareholders meeting.

Use of funds

The proceeds raised through the Placement will be used for general working capital purposes with a focus on achieving financing for Tiris and corporate transactions for the Haggan Vanadium Project and the Tasiast South Gold Projects.

The Placement Shares will be issued on Thursday, 16 January 2020.

Contact:

Mr Peter Reeve

Tel: +61 (0)3 9516 6500

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