Two types of unit sold through agent IBK Capital to fund exploration
By Devika Patel
Knoxville, Tenn., Dec. 27 - Augustine Ventures Inc. said it has arranged a C$3 million private placement of units. IBK Capital Corp. is the agent and will conduct the deal on a best-efforts basis.
The company will sell 14 million flow-through units of one flow-through common share and one half-share warrant at C$0.10 per unit.
The company also will sell 16 million non flow-through units of one common share and one warrant at C$0.10 per unit.
The whole warrants are exercisable at C$0.20 each for two years. The strike price is a 300% premium to the Dec. 26 closing share price of C$0.05.
Proceeds will be used for exploration at Augustine's Wawa Gold Project and working capital purposes.
The gold exploration company is based in Toronto.
| Issuer: | Augustine Ventures Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, non flow-through units of one common share and one warrant
|
| Amount: | C$3 million
|
| Price: | C$0.10
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | IBK Capital Corp.
|
| Pricing date: | Dec. 27
|
| Stock symbol: | CNSX: WAW
|
| Stock price: | C$0.05 at close Dec. 26
|
|
|
| Flow-through units
|
| Amount: | C$1.4 million
|
| Units: | 14 million
|
| Warrants: | One half-share warrant per unit
|
|
|
| Non flow-through units
|
| Amount: | C$1.6 million
|
| Units: | 16 million
|
| Warrants: | One warrant per unit
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
