- Aurania Resources (ARU) has closed the first tranche of its non-brokered private placement financing for gross proceeds of C$1,087,725
- Under the first tranche, the company issued 2,417,166 units at $0.45 per unit
- Net proceeds of the offering will be used primarily for drilling and exploration of the company’s Lost Cities-Cutucu Project in Ecuador
- Aurania is a mineral exploration company focused on precious metals and copper in South America
- Aurania Resources Ltd. (ARU) opened trading at C$0.56 per share
Aurania Resources (ARU) has closed the first tranche of its non-brokered private placement financing for gross proceeds of C$1,087,725.
Under the first tranche, the company issued 2,417,166 units at $0.45 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of C$0.75 per share at any time until November 29, 2024.
The company expects to close the second and final tranche of the offering shortly.
The company has paid finder’s fees consisting of $904.50 in cash and 2,010 finder warrants.
All securities issued under the offering are subject to a statutory four-month hold period.
Net proceeds of the offering will be used for drilling and exploration of the company’s Lost Cities-Cutucu Project in Ecuador and general working capital.
Aurania is a mineral exploration company focused on precious metals and copper in South America.
Aurania Resources Ltd. (ARU) opened trading at C$0.56 per share.