Aurania Resources - CEO, Keith Barron (left).
CEO, Keith Barron (left).
Source: Aurania Resources.
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  • Aurania Resources Aurania Resources (ARU) has closed its previously announced private placement for gross proceeds of approximately $2.26 million
  • A total of 1,256,037 units were sold at a price of $1.80 per unit
  • The placement remains subject to the final acceptance of the TSXV
  • Aurania is a mineral exploration company focused on precious metals and copper in South America
  • Aurania Resources Ltd. (ARU) opened trading at C$1.44 per share

Aurania Resources Aurania Resources (ARU) has closed its previously upsized private placement for gross proceeds of approximately $2.26 million.

A total of 1,256,037 units were sold at a price of $1.80 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise of $2.20 at any time until October 21, 2026.

The warrants issued in connection with the private placement are expected to be listed on the TSXV under the symbol ARU.WT.B on or about October 29, 2021.

Aurania has paid a cash commission equal to 2 per cent of the gross proceeds from the private placement (totalling approximately $45,217) to the underwriters. The company has also agreed to pay to certain eligible finders a fee equal to 7 per cent of the gross proceeds raised from subscriptions introduced to the company by such finders (totalling approximately $16,604).

The placement remains subject to the final acceptance of the TSXV. The common shares and warrants issued in the offering are subject to a statutory hold period of four months and a day.

Aurania is a mineral exploration company focused on precious metals and copper in South America.

Aurania Resources Ltd. (ARU) opened trading at C$1.44 per share.

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