Non-brokered offering funds acquisitions, general corporate purposes
By Devika Patel
Knoxville, Tenn., April 11 - Augyva Mining Resources Inc. said it raised C$500,237 in the third and final tranche of a C$5 million non-brokered private placement of units. The deal priced to raise between C$3 million and C$5 million on April 7 and settled the initial tranche of C$3.27 million a few hours later. Augyva raised C$1.23 million on Thursday.
The company sold 43,478,259 units of one common share and one warrant at C$0.115 per unit. It sold 28,456,630 units in the first tranche, 10,671,743 units in the second and 4,349,886 units in the third tranche.
Each warrant is exercisable at C$0.14 for five years, with the first-tranche warrants expiring on April 7, 2019, the second-tranche warrants expiring on April 8, 2019 and the third-tranche warrants expiring on April 10, 2019. The strike price is a 16.67% premium to the April 4 closing share price of C$0.12.
Proceeds will be used for acquisitions, general corporate purposes and working capital, including hiring a full-time chief executive officer and other staff.
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 warrant
|
| Amount: | C$5 million
|
| Units: | 43,478,259
|
| Price: | C$0.115
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | April 7, 2019, April 8, 2019 and April 10, 2019
|
| Warrant strike price: | C$0.14
|
| Agent: | Non-brokered
|
| Pricing date: | April 7
|
| Settlement dates: | April 7 (for C$3,272,513), April 10 (for C$1,227,251), April 11 (for C$500,237)
|
| Stock symbol: | TSX Venture: AUV
|
| Stock price: | C$0.12 at close April 4
|
| Market capitalization: | C$6.1 million
|
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