Business
Aurania Closes Oversubscribed Private Placement
Toronto, Ontario--(Newsfile Corp. - August 21, 2025) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Closes Oversubscribed Private PlacementToronto, Ontario--(Newsfile Corp. - August 21, 2025) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (\"Aurania\" or the \"Company\") announces that further to its news releases dated August 1, 2025 and August 5, 2025, the Company has closed an oversubscribed non-brokered private placement financing (the \"Offering\"). Total gross proceeds of C$1,906,355.76 were raised through the issuance of 15,886,298 units of the Company (the \"Units\") at a price of C$0.12 per Unit. Each Unit is composed of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder to purchase one Common Share (a \"Warrant Share\") at an exercise price of C$0.25 for a period of 24 months following the closing of the date of issuance.In connection with the Offering, the Company paid aggregate finder's fees consisting of (i) C$5118.40 in cash (the \"Cash Consideration\") and (ii) 42,653 compensation warrants (the \"Compensation Warrants\") to eligible finders. Each Compensation Warrant entitles the holder to acquire one additional Unit at a price of C$0.12 per Unit for a period of 24 months from the date of issuance. Each Unit issuable upon exercise of a Compensation Warrant is comprised of one Common Share and one Warrant. Each such Warrant entitles the holder to acquire one Warrant Share at a price of C$0.25 per Warrant Share for a period of 24 months from the date of issuance of the Compensation Warrant.The Company intends to use the net proceeds from the Offering primarily for exploration programs, general working capital purposes, and a portion of the proceeds will be allocated for the first payment of 2025 mineral concession fees in Ecuador.The closing of the Offering is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange. All securities issued and issuable pursuant to the Offering are subject to a four-month plus one day hold period commencing on the date of issuance. Related Party TransactionsDr. Keith Barron, CEO and a director of the Company, acquired 5,741,666 Units under the Offering (the \"Acquisition\"). The Acquisition constitutes a \"related party transaction\" as defined under the policies of the TSXV and Multilateral Instrument 61-101 ...