- Angold Resources (AAU) has closed its previously announced non-brokered private placement for gross proceeds of $805,894
- The company issued 5,756,386 units at a price of $0.14 per unit
- Each unit consists of one common share and one common share purchase warrant of the company
- Each warrant will be exercisable to purchase one common share at an exercise price of $0.20 until April 14, 2025
- Angold is an exploration and development company targeting large-scale mineral systems
- Angold Resources Ltd. (AAU) rose to $0.12, gaining $0.005 or 4.348 per cent at 11:11 AM ET
Angold Resources (AAU) has closed its non-brokered private placement for gross proceeds of $805,894.
The company issued 5,756,386 units at a price of $0.14 per unit.
Each unit consists of one common share and one common share purchase warrant of the company.
Each warrant will be exercisable to purchase one common share at an exercise price of $0.20 until April 14, 2025.
“With a strong working capital position, Angold is now fully funded to execute the first phase of drilling at Iron Butte, Nevada, and to conclude permitting at Dorado, Chile,” noted Angold’s CEO, Mr. Adrian Rothwell.
“We look forward to mobilizing drills at Iron Butte in the coming week,” he added.
Net proceeds from the offering will be used to advance the company’s projects as well as for general working capital purposes.
All securities issued in connection with the offering are subject to a statutory hold period until August 15, 2022, in accordance with applicable securities laws.
The offering included participation by directors and officers of the company in the aggregate amount of 150,000 units. Their participation constitutes “related party transactions” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
The issuances are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as they were a distribution of securities for cash and the fair market value of the Units issued to and the aggregate consideration paid by the directors and officers did not exceed 25 percent of the company’s market capitalization.
Angold is an exploration and development company targeting large-scale mineral systems in the proven districts of Maricunga, Nevada, and Ontario.
Angold Resources Ltd. (AAU) rose to $0.12, gaining $0.005 or 4.348 per cent at 11:11 AM ET.