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EX-99.1 - NEWS RELEASE #10-01 DATED JUNE 24, 2010 - AURELIO RESOURCE CORP | rrd281091_32391.htm |
Nevada
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33-1086828
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Telifonda Corporation was unable to meet two significant cash obligations to Aurelio of more than
In December 2009, the Company was advised that ownership of Telifonda and Bolsa (including the Hill project) was being acquired by Mining & Minerals Opportunity, Ltd. (the "MMO"), a private mineral acquisition and development company incorporated in Delaware that the Company understands has many shareholders in common.
The Settlement
The Company does not have the financial resources to pursue legal actions against Telifonda et. al. concerning the multiple defaults on the 2008 and 2009 agreements.
Reluctantly, the Company's Board of Directors have voted to accept an equity settlement consisting of 450,000 Preferred Series A shares of MMO, plus 1,000,000 warrants with an exercise price of US$6/share (expiry date of December 31, 2015).
The Company has been advised that MMO aims to complete an IPO on the Toronto Stock Exchange sometime during 2011.
Aurelio Resource Corporation
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Date: July 08, 2010
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By:
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/s/ Fredrik Warnaars
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Fredrik Warnaars
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Chairman
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Exhibit No.
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Description
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EX-99.1
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News Release #10-01 dated June 24, 2010
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