NOVI, Mich., July 30, 2009 (GLOBE NEWSWIRE) -- Auror Capital Corp. (OTCBB:AROC) (the "Company") wishes to announce that on July 27, 2009, the Company entered into an exclusive License Agreement with Mount Knowledge Inc. ("MtK"), a corporation based out of Ontario, Canada, and its founder, Erwin Sniedzins, wherein we were granted the exclusive world-wide licensing rights to promote, market and sell any and all of MtK's product lines both existing and future.
Mount Knowledge Inc. was established in Toronto, Canada, in 2005 and provides Real Time interactive Self-Learning multi-media content enablers ("RTSL") that help to turn information into knowledge up to 300% faster than traditional methods. Its patent pending "e-learning engine" takes a third party's dormant textual content and automatically creates exercises, tests and scores to enable learners to acquire knowledge faster than passive (rote) learning methods. MtK's current product lines to be marketed are known as the "Knowledge Generator" - Syntality and "Complete English Real Time Intelligent Self Learning Systems."
The Syntality Knowledge Generator has been designed and developed as a complete educational integrated system that addresses individual general needs to special needs and can turn any textual information into knowledge quickly. With more than 200 individual enabling learning tools the system covers most learning needs from Preschool to College; from one Phonetic sound to complete pronunciation phrases; from learning one word to complete sentences, from writing, listening to speaking and comprehension and so on.
The Company's markets are Corporation's Training departments and the more than 630 million students who are studying ESL (English as a Second Language), TOEFL (Test of English as a Foreign Language) as well as enhancing any third party textual content that a student or employee wants or needs to learn from books, internet and articles. This learning engine solution is being used by students from elementary, high school to colleges and MBA courses.
In consideration for the licensing rights granted by the License Agreement, the Company has agreed to pay MtK and Sniedzins, collectively, a royalty of eight percent (8%) of gross sales received by the Company, adjusted for direct costs of sales, commissions and/or franchise fees, related to the sale of MtK products, if applicable, if such costs have not already been deducted or accounted for in the gross sales amount.
The License Agreement will expire on July 27, 2019. However, the Company has the option to extend the License Agreement for two additional five (5) year periods upon thirty (30) days written notice. The License Agreement may also be further extended upon mutual agreement between the parties.
On July 27, 2009, the Company completed a private offering of 275,388 shares of its common stock at a price of $0.01 per share to a total of eleven (11) purchasers for total proceeds of $2,753.88. Also on July 27, the Company completed a private offering of 1,500,000 shares of its common stock at a price of $0.025 per share to Birch First Trust for total proceeds of $37,500. Birch First Trust, is a Delaware Statutory Trust controlled by Birch First Trust Administrators, LLC, as Trustee, Daniel A. Carr, Manager. Daniel Carr is a director of the Company.
On July 27, 2009, Daniel A. Carr was appointed as a director of the company.
Mr. Carr is currently the Managing Director of Practical Business Advisors, LLC, a software implementation business consulting firm that provide services to small to medium sized companies. His business skills have been honed through his personal involvement in 14 companies as well as many non-profit organizations. While his primary business was a software company providing applications for ERP, he has also had leadership and financial positions in companies providing hi-tech development, manufacturing, wholesale distribution, on-line financial services, and IT infrastructure.
Forward-Looking Statements
This Press Release may contain, in addition to historical information, forward-looking statements. Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with the U.S. Securities and Exchange Commission. When used in this news release, the words such as "could," "plan", "estimate", "expect", "intend", "may", "potential", "should", and similar expressions, are forward-looking statements. The risk factors that could cause actual results to differ from these forward-looking statements include, but are not restricted to the Company's limited operating history, uncertainties about the availability of additional financing, mechanical difficulties affecting the Company's planned business operations, operational risk, financial risk, currency risk and other statements that are not historical facts as disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with securities regulators in the United States.