By Devika Patel
Knoxville, Tenn., Oct. 29 - Augen Gold Corp. announced it raised another C$715,000 in a C$1.5 million non-brokered private placement of units. The company completed the first tranche on Oct. 29, raising C$315,000.
The company sold 10.3 million units at C$0.10 apiece. It sold 3.15 million units in the first tranche and 7.15 million units in this one.
The units consist of one common share and one warrant. Each warrant will be exercisable for one flow-through common share at C$0.20 for five years.
Proceeds will be used for exploration and working capital.
Based in Toronto, Augen Gold is gold and based metals exploration company.
| Issuer: | Augen Gold Corp.
|
| Issue: | Units of one common share and warrant
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Settlement date: | Oct. 29 (for C$315,000), Dec. 16 (for C$715,000)
|
| Stock symbol: | TSX Venture: GLD
|
| Stock price: | C$0.075 at close Oct. 28
|
| Market capitalization: | C$3.42 million
|
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