AORO.V - Aloro Mining Corp

Corporate Description

Website: https://aloromining.com/
Mar 2019 Corporate Presentation: [https://aloromining.com/site/assets/files/5131/property_presentation_march_2019.pdf

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Directors and Management

Name Title
Doyle, Thomas A. President,CEO and Director
Anderson, Logan B. CFO, Secretary and Director
Burnett, Greg Director
Cartier, James M. Director
Balleweg, Kenneth J. Technical Advisor
Herdrick, Melvin A. Technical Advisor, Qualified Person

Share Structure as of November 29 2018

Basic: 46,060,630
Fully Diluted: 53,460,630
*Source - MD&A for quarter ended September 30 2018

Options Outstanding

Number Exercise Price Expiry Date
200,000 $0.10 April 2 2023
200,000 $0.10 June 13 2023

*Source: Financial Statement for quarter ended September 30 2018

Warrants Outstanding

Number
Exercise
Price
Expiry Date
5,000,000 $0.10/
$0.125*
December 11 2019
1,500,000 $0.085 January 19 2020

*Note: Warrant exercisable at $0.10 first year and $0.125 in the second year
*Source: Financial Statement for quarter ended September 30 2018

Insider Ownership

Name Common Shares
Anderson, Logan B (Direct) 2,045,150
Anderson, Logan B (Indirect) 1,196,000
Burnett, Greg 1,964,175
Doyle, Thomas A. (Indirect) 3,171,150
Doyle, Thomas A. (Direct) 9,806,679

*Source: SEDI as of March 2 2019

Liquidity & Capital Resources

Source: Financial Statement  quarter ended September 30 2018
Current Assets $98,259 CAD
Current Liabilities $571,424 CAD
Working Capital $(473,165) CAD

Financing History/Prior Sales

Date Shares Warrants Full Warrant
Price
Full Warrant
Period
October 29 2018 8,000,000 common shares at $0.10* N/A N/A N/A
December 28 2017 1,580,000 common shares at $0.10** N/A N/A N/A
December 11 2017 5,000,000 common shares at $0.075 1 common share purchase warrant $0.10/$0.125*** 24 months
January 31 2017 1,500,000 common shares at $0.07 1 common share purchase warrant $0.085 36 months

*Note: Agnico Eagle was the lead subscriber purchasing 4,000,000 common shares. The Company and Agnico also entered into an Investor Rights Agreement
**Note: Shares issued for debt settlement (Note 10 in Financial Statement for year ended December 31 2017)
***Note: Warrant exercisable at $0.10 first year and $0.125 in the second year

Termination & Change of Control Payments

Effective January 1, 2011, the Company entered into a consulting agreement with each of TAD Financial Corp., a consulting company owned by Thomas A. Doyle, and Amteck Financial Corp., a consulting company owned by Logan B. Anderson, pursuant to which Mr. Doyle agreed to provide services as CEO and President of the Company for a consulting fee of $10,000 per month and Mr. Anderson agreed to provide services as CFO of the Company for a consulting fee of $6,000 per month. Each of Messrs. Doyle and Anderson received monthly compensation payments directly from the Company from January 2011 to March 2011, at which time payments began to be made by the Company to TAD Financial Corp. and Amteck Financial Corp. Each consulting agreement was for an initial one year term and renews automatically for one year terms each year thereafter unless either the Company or the consultant gives 60 days’ written notice to the other of its intention not to renew the respective agreement. In the event of a change of control of the Company, each agreement provides that the consultant will receive a lump sum payment equal to twenty-four times their respective monthly consulting fees.

*Source: Management Circular filed on SEDAR May 30 2018

Corporate Highlights

Los Venados Project

The Los Venados Project, consists of two mining concessions covering an area of approximately 3,199 hectares. The concessions are situated approximately 220 kilometres east-southeast of the city of Hermosillo, the capital of the State of Sonora.  Road access to the property is readily possible via paved and gravel roads from Hermosillo southeast to Mulatos via Sahuaripa.


Date Headline
February 28 2019 Aloro Signs New Three Year - 50 Drill Hole Surface Access Agreement With the Mulatos Ejido
February 5 2019 Aloro Provides 2018 Drill Plan Map for Los Venados
February 5 2018 Aloro Provides Update on Drilling at Los Venados and Planning Follow Up Drill Program
November 19 2018 Aloro Mobilizes Drill Rig to the Los Venados Project
November 9 2018 Aloro Mobilizes Bulldozer for Road Construction and Building of Drill Pads
June 29 2018 Aloro Receives Permit to Drill and Construct Road Access
June 26 2018 Aloro More Than Doubles Land Position in Mulatos Gold District
February 20 2018 Wolverine Minerals Changes Name to Aloro Mining Corp
November 28 2017 Wolverine Advances Work On Los Venados Property
February 8 2017 Wolverine Announces Closing Of Option Agreement With Almadex Minerals
November 29 2016 Wolverine Minerals Options Los Venados Property from Almadex Minerals

See more here: https://aloromining.com/projects/los-venados-project/