Deal funds exploration and development at the Maverick Gold Project
By Devika Patel
Knoxville, Tenn., July 12 - Auriga Gold Corp. said it raised C$700,000 in the first tranche of a C$3 million non-brokered private placement of units. The deal priced June 15.
The company is selling 6 million units of one flow-through common share and one half-share warrant at C$0.50 per unit. It sold 1.4 million units in the first tranche.
Each full warrant will be exercisable at C$0.75 for 18 months. The strike price is an 87.5% premium to the June 14 closing share price of C$0.40.
Proceeds will be used for exploration and development at the Maverick Gold Project.
Auriga is a gold exploration company based in Toronto.
| Issuer: | Auriga Gold Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 6 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | June 15
|
| Settlement date: | July 12 (for C$700,000)
|
| Stock symbol: | TSX Venture: AIA
|
| Stock price: | C$0.40 at close June 15
|
| Market capitalization: | C$13.5 million
|
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