By Laura Lutz
Des Moines, June 11 - Aura Silver Resources Inc. settled its previously announced private placement of units for $1.87 million.
The deal priced on May 8 as an offering of units for up to $2 million, and at least $1 million.
The company sold 4.675 million units of one share and one half-share warrant at $0.40 per unit. Each whole warrant will be exercisable at $0.60 for two years.
Expiry of the warrants may be accelerated to 30 days if the company's shares trade above $1.20 for 20 consecutive trading days.
The placement will be non-brokered.
Proceeds will be used for exploration, for potential acquisition and funding of exploration projects and for working capital.
Aura is a precious metals exploration and development company based in Brampton, Ont.
| Issuer: | Aura Silver Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $1.875 million
|
| Units: | 4.675 million
|
| Price: | $0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.60
|
| Agent: | Non-brokered
|
| Pricing date: | May 8
|
| Settlement date: | June 11
|
| Stock symbol: | TSX Venture: AUU
|
| Stock price: | C$0.51 at close May 8
|
| Stock price: | C$0.47 at close June 8
|
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