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Aurania Closes Private Placement with Total Gross Proceeds Of C$1.72M
Toronto, Ontario--(Newsfile Corp. - May 5, 2025) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUI...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Closes Private Placement with Total Gross Proceeds Of C$1.72MToronto, Ontario--(Newsfile Corp. - May 5, 2025) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (\"Aurania\" or the \"Company\") announces that further to its news release dated April 17, 2025, and its news release dated April 3, 2025, it has closed the second and final tranche (the \"Second Tranche\") of its non-brokered private placement financing (the \"Offering\"). An aggregate of 2,569,022 units of the Company (the \"Units\") were sold under the Second Tranche at a price of C$0.30 per Unit for total gross proceeds of C$$770,706.87. Together with the first tranche (the \"First Tranche\") of the Offering, which closed on April 17, 2025, and pursuant to which C$954,869.70 was raised through the sale of 3,182,899 Units, the Company has now completed the Offering for total gross proceeds of C$1,725,576.57 through the issuance of 5,751,921 Units.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$0.55 for a period of 24 months following the closing of the date of issuance.In connection with the Second Tranche, the Company paid a finder's fees consisting of (i) C$525.00 in cash (the \"Cash Consideration\") and (ii) 1,750 compensation warrants (the \"Compensation Warrants\"). Each Compensation Warrant entitles the holder to acquire one Unit at a price of C$0.30 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$0.55 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 general working capital purposes and also may use such proceeds for the payment of any required 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 Second Tranche of the Offering are subject to a f...