Offering proceeds intended to finance exploration and working capital
By Devika Patel
Knoxville, Tenn., April 9 - AuRo Resources Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 14,285,714 units of one common share and a half-share warrant at C$0.07 per unit.
Each whole warrant is exercisable at C$0.15 for 18 months. The strike price reflects an 87.5% premium to the April 5 closing share price of C$0.08.
Proceeds will be used for exploration at the company's key projects in Colombia and general 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$1 million
|
| Units: | 14,285,714
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | April 9
|
| Stock symbol: | TSX Venture: ARU
|
| Stock price: | C$0.08 at close April 5
|
| Market capitalization: | C$4.43 million
|
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