By Devika Patel
Knoxville, Tenn., July 24 - Brazauro Resources Corp. completed a private placement of units, raising C$8.36 million, the company said in a press release.
The company sold 8.8 million units at C$0.95 each to Eldorado Gold Corp.
Each unit consists of one common share and one half-share warrant. The whole warrants are exercisable at C$1.30 for 18 months.
Proceeds will be used for further exploration on the company's Bom Jardim property and for potential acquisitions and general corporate purposes.
Brazauro is a mining company based in Houston.
| Issuer: | Brazauro Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$8.36 million
|
| Units: | 8.8 million
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.30
|
| Investor: | Eldorado Gold Corp.
|
| Settlement date: | July 24
|
| Stock symbol: | TSX Venture: BZO
|
| Stock price: | C$0.50 at close July 24
|
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