Business
Aurania Announces Overnight Marketed Offering and Concurrent Private Placement
Toronto, Ontario--(Newsfile Corp. - October 4, 2021) - Aurania Resources Ltd. (TSXV: ARU) (FS...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Announces Overnight Marketed Offering and Concurrent Private PlacementToronto, Ontario--(Newsfile Corp. - October 4, 2021) - Aurania Resources Ltd. (TSXV: ARU) (FSE: 20Q) (\"Aurania\" or the \"Company\") announces that it is undertaking an overnight marketed public offering of units (the \"Offered Units\") of the Company for gross proceeds of up to CDN$10.0 million (the \"Offering\") and a concurrent private placement of units for gross proceeds of up to CDN$2 million. The Offering is expected to be completed pursuant to an underwriting agreement to be entered into between the Company and Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, and a syndicate of underwriters including Canaccord Genuity Corp. and Echelon Wealth Partners Inc. (collectively, the \"Underwriters\").Overnight Marketed Public OfferingThe number of Offered Units to be sold, the offering price (the \"Offering Price\") and the terms of the Offered Units will be determined in the course of marketing and there can be no assurance as to completion of the Offering. In addition, the Company will grant the Underwriters an over-allotment option (the \"Over-Allotment Option\") exercisable, in whole or in part, in the sole discretion of the Underwriters, to purchase up to an additional 15% of the number of Offered Units sold in the Offering for up to 30 days after the closing, on the same terms and conditions as the Offering.The Company will pay the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering, including proceeds received from the exercise of the Over-Allotment Option, in addition to broker warrants to purchase up to 6.0% of the number of Offered Units, including the Offered Units from the exercise of the Over-Allotment Option sold in the Offering (the \"Broker Warrants\"). Each Broker Warrant shall entitle the Underwriters to purchase one Unit at the Offering Price at any time on or before the date on which the Warrants issued under the Offering are set to expire.Concurrent Private PlacementThe Company will be conducting a concurrent private placement financing (the \"Private Placement\") of units on the same terms and conditions as the Offering. The Private Placement will supersede the non-brokered private placement of units previously announced on September 13, 2021. Details of the Overnight M...