Business
Aero Announces $5M Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2024) - Aero Energy Limited (TSXV: AE...
About this update from Aero Energy Limited
[{"type":"text","content":"Aero Announces $5M Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - February 13, 2024) - Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: 13L0) (formerly Angold Resources Ltd.) (\"Aero Energy\" or the \"Company\") announces a non-brokered private placement of (i) non-flow-through units (the \"NFT Units\") to be sold at a price of $0.15 per NFT Unit; (ii) flow-through units (the \"FT Units\") to be sold at a price of $0.175 per FT Unit; and (iii) flow-through charity units (the \"Charity Units\") to be sold at a price of $0.2275 per Charity Unit, for aggregate gross proceeds of $5,000,000 (the \"Offering\"). Each NFT Unit will be comprised of one non-flow-through common share (a \"Share\") and one-half of one share purchase warrant (a \"Warrant\"). Each FT Unit and Charity Unit will be comprised of one flow-through common share and one-half of one Warrant. The Warrants will have the same terms, with each whole Warrant entitling the holder thereof to purchase one Share for a period of two years at a price of $0.25. The exact number of NFT Units, FT Units and Charity Units sold will be determined at closing of the Offering. The gross proceeds received from the sale of the FT Units and the Charity Units will be used for work programs on the Company's Murmac, Strike and Sun Dog Properties, all located along the northwestern margin of the Athabasca Basin of Saskatchewan. The net proceeds received from the sale of the NFT Units will be used for general working capital.Eventus Capital Corp. will act as a finder in connection with the Offering. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the \"1933 Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and ...