HOUSTON--(BUSINESS WIRE)--Brazauro Resources Corporation (“Brazauro”) is pleased to announce that Eldorado Gold Corporation (“Eldorado”) has confirmed completion of due diligence to its satisfaction in connection with the previously announced agreement respecting the Company’s Tocantinzinho project in Brazil. (see News Release issued July 9, 2008)
As a result, Eldorado will purchase 8.8 million units of the Company (the “Units”) at $0.95 per Unit for proceeds of $8,360,000. The private placement is expected to close on Thursday, July 24, 2008.
Proceeds of the private placement will be used for further exploration on the Company's Bom Jardim property and for potential acquisitions and general corporate purposes.
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Signed "Mark E. Jones III" |
| Mark E. Jones III |
| Chairman and CEO |
Brazauro Resources Corporation, Houston
Mark E. Jones III,
281-579-3400
Chairman
info@brazauroresources.com
www.brazauroresources.com
