Deal generates proceeds to fund drilling on Atlantico potash project
By Devika Patel
Knoxville, Tenn., April 21 - Aguia Resources Ltd. said it arranged a A$15 million private placement of subscription receipts through agents Dundee Securities Ltd. and Taylor Collison Ltd.
The company will sell about 18.3 million subscription receipts at A$0.82 apiece. The price per receipt reflects an 8.89% discount to the April 20 closing share price of A$0.90.
Each subscription receipt will be exchangeable for one ordinary share once certain conditions are met.
Settlement is expected May 19.
Proceeds will be used for exploration drilling and development work on the Potash Atlantico project in the Sergipe basin and general corporate purposes.
Based in Sydney, Australia, Aguia is an iron oxide, copper and gold explorer.
| Issuer: | Aguia Resources Ltd.
|
| Issue: | Subscription receipts
|
| Amount: | A$15 million
|
| Receipts: | 18.3 million (approximate)
|
| Price: | A$0.82
|
| Warrants: | No
|
| Agents: | Dundee Securities Ltd. and Taylor Collison Ltd.
|
| Pricing date: | April 21
|
| Settlement date: | May 19
|
| Stock symbol: | Australia: AGR
|
| Stock price: | A$0.98 at close April 21
|
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