Deal to fund exploration in Quebec, acquisitions and working capital
By Devika Patel
Knoxville, Tenn., Feb. 7 - Augyva Mining Resources Inc. said it has arranged a private placement of units through agent Industrial Alliance Securities Inc. The deal will raise C$5 million.
The company will sell 8,333,333 units of one common share and one half-share warrant at C$0.60 per unit on a commercially reasonable efforts basis. The whole warrants are exercisable at C$0.85 for 18 months.
The strike price is a 66.67% premium to the Feb. 4 closing share price of C$0.51.
Proceeds will be used for exploration on Quebec properties, strategic acquisitions and working capital.
Augyva is an iron ore, gold and base metals mining company based in La Macaza, Quebec.
| Issuer: | Augyva Mining Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Units: | 8,333,333
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.85
|
| Agent: | Industrial Alliance Securities Inc.
|
| Pricing date: | Feb. 7
|
| Stock symbol: | TSX Venture: AUV
|
| Stock price: | C$0.51 at close Feb. 4
|
| Market capitalization: | C$21.26 million
|
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