REG-Auxico Resources Canada Inc.: Auxico Closes Private Placement

Auxico Resources CanadaAnnouncement

12/02/2019 07:05

12 February 2019

Auxico Resources Canada Inc.

(“Auxico” or the “Company”)

NEWS RELEASE

AUXICO CLOSES PRIVATE PLACEMENT

The Company is pleased to note the announcement released yesterday via SEDAR
in Canada.

Auxico Resources Canada Inc. (CSE: AUAG) (NEX London: AUAG) is pleased to
announce that it has completed a non-brokered private placement of 2,000,000
units (“Units”), issued at a price of $0.20 per Unit, for gross proceeds
of $400,000.  Each unit consists of one common share (a “Share”) and
one-half transferable common share purchase warrant (“Warrant”).  Each
full Warrant entitles the holder to acquire one additional Share of the
Company at a price of $0.40 per Share for two years from the date of issuance.

The Company paid finder’s fees of $28,000 in connection with the private
placement. All Shares issued pursuant to the private placement are subject to
a four-month hold period in Canada. 

The net proceeds of the private placement will be used for evaluating coltan
opportunities in Colombia and Brazil, as well as for general working capital
purposes.

ON BEHALF OF THE BOARD OF DIRECTORS

« signed »                                                        
« signed »
Pierre
Gauthier                                                
Mark Billings

CEO, Auxico Resources Canada Inc.                 President,
Auxico Resources Canada Inc.

pg@auxicoresources.com
                                
mb@auxicoresources.com
Cell: +1 514 299
0881                                     
Cell: +1 514 296 1641”

The Directors of the Company accept responsibility for the contents of this
announcement.

For further information, please contact:

 Auxico Resources Canada Inc. Mark Billings, President www.auxicoresources.com/                         + 1 514 296 1641 mb@auxicoresources.com  
 NEX Exchange Growth Market Corporate Adviser:  Peterhouse Capital Limited Guy Miller and Fungai Ndoro  +44 (0)20 7469 0930                      

About Auxico Resources Canada Inc.

Auxico Resources Canada Inc. (“Auxico”) is a Canadian company that was
founded in 2014 and based in Montreal. Auxico is engaged in the acquisition,
exploration and development of mineral properties in Colombia and Mexico.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept
responsibility for the adequacy or the accuracy of the contents of this
release.



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