Non-brokered deal offers units of shares, warrants at C$0.08 apiece
By Devika Patel
Knoxville, Tenn., March 14 - Augen Capital Corp. said it will conduct a non-brokered private placement of units. It will raise C$1 million.
The company will sell 12.5 million units of one common share and one warrant at C$0.08 apiece. The two-year warrants are each exercisable at C$0.15 in the first year and at C$0.25 in the second.
The strike prices are 87.5% and 212.5% premiums to the March 11 closing share price of C$0.08.
Proceeds will be used for general working capital.
Toronto-based Augen is a merchant bank focused on financing early stage resource companies.
| Issuer: | Augen Capital Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 12.5 million
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15 in the first year, C$0.25 in the second
|
| Agent: | Non-brokered
|
| Pricing date: | March 14
|
| Stock symbol: | TSX Venture: AUG
|
| Stock price: | C$0.08 at close March 14
|
| Market capitalization: | C$5.21 million
|
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