By Devika Patel
Knoxville, Tenn., Aug. 9 - Aura Silver Resources Inc. said it plans a C$1 million private placement of units. Union Securities Ltd. will be the agent for the deal, which is identical to one that priced in March.
The company will sell 5,882,353 units at C$0.17 apiece on a commercially reasonable basis. Each unit consists of one common share and one warrant.
Each two-year warrant will be exercisable at C$0.25. The strike price reflects a 25% premium to the Aug. 6 closing share price of C$0.20.
Proceeds will be used for drilling and exploration, as well as for working capital and general corporate requirements.
Aura is a precious metals exploration and development company based in Brampton, Ont.
Issuer: | Aura Silver Resources Inc.
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Issue: | Units of one common share and one warrant
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Amount: | C$1 million
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Units: | 5,882,353
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Price: | C$0.17
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.25
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Agent: | Union Securities Ltd.
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Pricing date: | Aug. 9
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Stock symbol: | TSX Venture: AUU
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Stock price: | C$0.20 at close Aug. 6
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Market capitalization: | C$8.44 million
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