Two types of units sold through agent IBK Capital to fund exploration
By Devika Patel
Knoxville, Tenn., Feb. 8 - Augustine Ventures Inc. said it raised C$120,000 in the first tranche of a C$3 million private placement of units. IBK Capital Corp. is conducting the deal on a best-efforts basis. The offer priced Dec. 27.
The company is selling 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 is selling 16 million non flow-through units of one common share and one warrant at C$0.10 per unit.
In the first tranche, Augustine sold 800,000 non flow-through units and 400,000 flow-through units.
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 for working capital.
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
|
| Settlement date: | Feb. 8 (for C$120,000)
|
| 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
|
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