By Devika Patel
Knoxville, Tenn., Aug. 13 - Augen Gold Corp. said it will complete a C$2 million private placement of units. The offering will be conducted by co-lead agents Industrial Alliance Securities and Secutor Capital Management Corp. There is a 15% greenshoe.
The company will sell 6,818,181 flow-through units at C$0.22 apiece for C$1.5 million. Each flow-through unit consists of one flow-through common share and one warrant.
The company also will sell 2,941,176 units at C$0.17 apiece for C$500,000. Each unit consists of one common share and one warrant.
Each warrant is exercisable at C$0.25 for 18 months. The strike price represents a 25% premium to the Aug. 12 closing share price of C$0.20.
Proceeds will be used for exploration and working capital.
Based in Toronto, Augen Gold is gold and base metals exploration company.
| Issuer: | Augen Gold Corp.
|
| Issue: | Flow-through units of one flow-through common share and one warrant, units of one common share and one warrant
|
| Amount: | C$2 million
|
| Greenshoe: | 15%
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agents: | Industrial Alliance Securities and Secutor Capital Management Corp. (co-leads)
|
| Pricing date: | Aug. 13
|
| Stock symbol: | TSX Venture: GLD
|
| Stock price: | C$0.20 at close Aug. 12
|
| Market capitalization: | C$9.98 million
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 6,818,181
|
| Price: | C$0.22
|
|
|
| Units
|
| Amount: | C$500,000
|
| Units: | 2,941,176
|
| Price: | C$0.17
|
| Warrants: | One warrant per unit
|
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