Auralite Provides Operational Update

VANCOUVER, British Columbia, May 22, 2020 (GLOBE NEWSWIRE) -- Auralite Investments Inc. (TSX Venture: AAAA) (the "Company" or "Auralite"), is pleased to provide the following update in regards to recent activity.

Recent Transactions

Auralite has closed a $1,000,000 investment into Gold Lion Resources Inc. (“Gold Lion”). Pursuant to the investment, Auralite has acquired an aggregate of 2,000,000 common shares of Gold Lion ("Gold Lion Shares") and 2,000,000 common share purchase warrants exercisable for an additional 2,000,000 Gold Lion Shares at a price of $0.75 for a period of 24 months from issuance.

Auralite has disposed of its interest in Singapore-based EVVO Labs Pte. Ltd. back to EVVO, in consideration for a $250,000 (Singapore dollars) secured promissory note (the “Secured Note”).  The Secured Note is due one year from issuance and is secured pursuant to a pledge agreement in regards to the shares being sold back to EVVO.

Gold Lion is a British Columbia based gold exploration company listed on the Canada Securities Exchange (symbol CSE: GL).  Gold Lion holds property interests in British Columbia and Idaho, with its primary properties being the “Robert Gulch”, “Erickson Ridge” and “South Orogrande” properties in Idaho.

ABOUT AURALITE

Auralite is an investment issuer with interests in, South Korea-based Fourth-Link Inc., Canadian-based Champignon Brands, educational technology developer Akiva Systems Inc., and CSE listed gold exploration company Gold Lion Resources Inc.

ON BEHALF OF AURALITE INVESTMENTS INC. BOARD OF DIRECTORS

“Robert Meister”

For more information contact:
(604) 351-6647

Or Email: [email protected]
http://www.auraliteinvestments.com/

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release contains forward-looking statements including statements regarding any of the Auralite holdings or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.