Deal sells units of one share, one two-year warrant at C$0.15 per unit
By Devika Patel
Knoxville, Tenn., June 4 - Auracle Resources Ltd. said it plans a C$2 million non-brokered private placement of units.
The company will sell 13,333,333 units of one common share and one warrant at C$0.15 per unit.
Each warrant is exercisable for two years at C$0.30, a 172.73% premium to the June 1 closing price of C$0.11.
Proceeds will be used to advance the company's Mexican Hat property and for general corporate purposes.
The gold and silver explorer is based in Vancouver, B.C.
| Issuer: | Auracle Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 13,333,333
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | June 4
|
| Stock symbol: | TSX Venture: AAL
|
| Stock price: | C$0.11 at close June 1
|
| Market capitalization: | C$3.46 million
|
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