Offering proceeds intended to finance working capital and exploration
By Devika Patel
Knoxville, Tenn., Feb. 23 - AuRo Resources Corp. said it increased a non-brokered private placement of units. The deal priced for C$1.2 million on Feb. 16 and will now raise C$2.5 million.
The company will now sell 16.73 million units at C$0.15 apiece. Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at C$0.30 for two years. The strike price reflects a 66.67% premium to the Feb. 15 closing share price of C$0.18.
Proceeds will be used for exploration and working capital.
Based in Vancouver, B.C., AuRo explores for gold.
| Issuer: | AuRo Resources Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2,509,500
|
| Units: | 16.73 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 16
|
| Upsized: | Feb. 23
|
| Stock symbol: | TSX Venture: ARU
|
| Stock price: | C$0.17 at close Feb. 16
|
| Market capitalization: | C$5.39 million
|
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