Aurania Resources - CEO, Keith Barron (left).
CEO, Keith Barron (left).
Source: Aurania Resources.
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  • Aurania (ARU) intends to raise C$6 million through a public offering and $2 million through a private placement
  • It will use proceeds from both financings to further explore its Lost Cities – Cutucu Project in Ecuador
  • The financings are expected to close on or about October 20, 2021
  • Aurania is a mineral exploration company focused on precious metals and copper in South America
  • Aurania (ARU) closed down by 25.71 per cent trading at $1.56 per share

Aurania (ARU) intends to raise C$6 million through a public offering and $2 million through a private placement.

The public offering, led by Cantor Fitzgerald Canada, comprises 3,335,000 units priced at $1.80 per unit for gross proceeds of $6,003,000.

Each unit is comprised of one common share and one common share purchase warrant.

Each warrant entitles the holder to purchase one common share for $2.20 for up to five years after the closing date.

If the over-allotment option is exercised in full, the total gross proceeds will rise to $6,903,450.

Aurania will also conduct a private placement of units for gross proceeds of up to $2 million on the same terms and conditions as the offering.

The company will use proceeds from both financings for exploration expenditures at its Lost Cities – Cutucu Project in Ecuador as well as for working capital and general corporate purposes.

The offering and private placement are expected to close on or about October 20, 2021.

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

Aurania (ARU) closed down by 25.71 per cent trading at $1.56 per share.

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