By Devika Patel
Knoxville, Tenn., May 3 - Aura Silver Resources Inc. said it raised C$220,000 in the second tranche of a C$1 million private placement of units. The company raised C$635,000 on April 22.
Union Securities Ltd. is agent for the deal, which priced March 22.
The company is selling 5 million units at C$0.20 apiece. It sold 3,175,000 units in the first tranche and 1.1 million units in this one. Each unit consists of one flow-through common share and one warrant. Each two-year warrant will be exercisable at C$0.25.
Proceeds will be used for drilling and exploration.
Aura is a precious metals exploration and development company based in Brampton, Ont.
| Issuer: | Aura Silver Resources Inc.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Union Securities Ltd.
|
| Pricing date: | March 22
|
| Settlement date: | April 22 (for C$635,000), May 3 (for C$220,000)
|
| Stock symbol: | TSX Venture: AUU
|
| Stock price: | C$0.18 at close March 19
|
| Market capitalization: | C$7.66 million
|
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