Nevada, northwestern Turkey, and Labrador
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Message: Aurora (under Fronteer offer) Issues Directors' Circular
| February 6, 2009 |
| Aurora Issues Directors' Circular |
| ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 6, 2009) - Aurora Energy Resources Inc. ("Aurora" or the "Company") (TSX:AXU) announced today that it has issued a Directors' Circular from its Board of Directors in response to the offer (the "Fronteer Offer") by Fronteer Development Group Inc. ("Fronteer") to acquire all of the common shares of Aurora that it does not already own on the basis of 0.825 of a Fronteer common share for each Aurora common share. The Directors' Circular is being mailed to shareholders and will be available on www.sedar.com. The Special Committee of the Aurora Board of Directors has retained National Bank Financial Inc. as its financial advisor to advise it with respect to the Fronteer Offer and to solicit other offers for Aurora or its assets or other transactions involving Aurora that would provide greater value to shareholders than the Fronteer Offer. The Special Committee is currently in discussions with third parties with respect to possible alternative offers or transactions, although there can be no assurance that any such alternative offer or transaction will emerge. The Board of Directors is making no recommendation with respect to the Fronteer Offer at this time and advises that Aurora Shareholders wait for further communication from the Board of Directors prior to deciding whether or not to tender their Aurora shares to the Fronteer Offer. There is no immediate urgency for Aurora shareholders to do anything with respect to the Fronteer Offer. The Fronteer Offer is open for acceptance until 8:00 p.m. (Eastern Standard Time) on March 2, 2009, unless extended or withdrawn. The Fronteer Offer is subject to certain conditions. The Aurora Board of Directors will communicate further with shareholders prior to the expiry of the Fronteer Offer so that Aurora shareholders will have updated information in deciding whether or not to tender to the Fronteer Offer. ABOUT AURORA Aurora is a uranium exploration and development company active in the Central Mineral Belt of coastal Labrador - one of the world's most promising uranium districts - and in Nunavut, Canada, where it has acquired an interest in the Baker Lake Basin property. Aurora has no debt and approximately C$98 million in cash that is fully liquid and held with a large Canadian commercial bank. Aurora is committed to responsible development, which includes community consultation, lasting local benefits and the highest standards of safety, health, and environmental protection. |
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