- Angold Resources (AAU) has announced a marketed public offering of units for gross proceeds of $3 million
- The company will issue up to 21.4 million units priced at $0.14 per unit
- Net proceeds will be used for working capital and general corporate purposes
- The offering is expected to close in early April
- Angold is a gold exploration and development company
- Angold Resources Ltd. (AAU) opened trading at C$0.16 per share
Angold Resources (AAU) has announced a marketed public offering of units for gross proceeds of $3 million.
The company will issue up to 21.4 million units priced at $0.14 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional share at an exercise price of $0.20 at any time up to 36 months from the closing of the offering.
The company has entered into an agreement with Research Capital Corporation and Canaccord Genuity Corp. as the co-lead agents and joint bookrunners. The agents have been granted an over-allotment option.
Net proceeds will be used for working capital and general corporate purposes.
The offering is expected to close on or about April 4, 2022.
Angold is a gold exploration and development company targeting large-scale mineral systems in Maricunga, Nevada and Ontario. Angold owns a 100 per cent interest in the Dorado, Cordillera and South Bay-Uchi projects.
Angold Resources Ltd. (AAU) opened trading at C$0.16 per share.