Brokered offering finances drilling, exploration and working capital
By Devika Patel
Knoxville, Tenn., Aug. 15 - Aura Silver Resources Inc. said that it plans to sell C$4 million of units in a private placement. Union Securities Ltd. is the agent.
The company will sell units of one common share and one half-share warrant at C$0.15 per unit and flow-through units of one flow-through common share and one half-share warrant at C$0.17 per unit on a commercially reasonable basis.
Each whole, two-year warrant will be exercisable at C$0.20. The strike price reflects a 25% premium to the Aug. 12 closing share price of C$0.16.
Proceeds will be used for drilling and exploration programs, working capital and general corporate requirements.
Aura is a precious metals exploration and development company based in Brampton, Ont.
| Issuer: | Aura Silver Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$4 million
|
| Price: | C$0.15 per unit, C$0.17 per flow-through unit
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Union Securities Ltd.
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| Pricing date: | Aug. 9
|
| Stock symbol: | TSX Venture: AUU
|
| Stock price: | C$0.16 at close Aug. 12
|
| Market capitalization: | C$13.18 million
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