- Aurwest Resources (AWR) has announced a non-brokered private placement of up to C$2,550,000 led by Eric Sprott
- The company will issue up to 10,000,000 flow-through units at $0.18 per unit and up to 5,000,000 ordinary units at $0.15 per unit
- Sprott plans to invest $1,500,000 in the private placement
- The company will use the proceeds primarily to fund its continuing exploration programs in Newfoundland and in Stellar, B.C.
- Aurwest is focused on acquiring, exploring and developing gold, silver and other precious and base metal properties in North America
- Aurwest Resources (AWR) is up by 2.78 per cent and is currently trading at $0.185 per share
Aurwest Resources (AWR) has announced a non-brokered private placement of up to C$2,550,000 led by Eric Sprott.
The company will issue up to 10,000,000 flow-through units at $0.18 per unit and up to 5,000,000 ordinary units at $0.15 per unit.
Each flow-through unit consists of one flow-through share priced at $0.18 and one share purchase warrant.
Each warrant entitles the subscriber to purchase one Aurwest common share for $0.24 for 24 months from the closing date.
Each ordinary unit consists of one Aurwest common share priced at $0.15 and one share purchase warrant.
Each warrant entitles the subscriber to purchase one Aurwest common share for $0.20 for 24 months from the closing date.
Eric Sprott, through 2176423 Ontario Ltd., a corporation he beneficially owns and controls, plans to invest $1,500,000 in the private placement to acquire 5,555,555 flow-through units and 3,333,333 ordinary units.
The company will use the proceeds primarily to fund its continuing exploration programs in Newfoundland and in Stellar, B.C.
Cameron MacDonald, Chairman of Aurwest, commented,
“We are very pleased to welcome Mr. Sprott as a key shareholder in Aurwest. His investment is a strong endorsement of our substantial gold property exposure in Central Newfoundland, and ensures Aurwest is well funded to pursue our exploration plans.”
Aurwest is focused on acquiring, exploring and developing gold, silver and other precious and base metal properties in North America.
Aurwest Resources (AWR) is up by 2.78 per cent and is currently trading at $0.185 per share as of 10:12 am ET.
