Business
Aurania Resources Announces C$10M Offering
Toronto, Ontario--(Newsfile Corp. - October 1, 2020) - Aurania Resources Ltd. (TSXV: ARU) (FS...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Resources Announces C$10M OfferingToronto, Ontario--(Newsfile Corp. - October 1, 2020) - Aurania Resources Ltd. (TSXV: ARU) (FSE: 20Q) (\"Aurania\" or the \"Company\") announces that further to its previously announced overnight marketed public offering (the \"Offering\") of units of the Company (the \"Offered Units\") on September 30, 2020, it has entered into an underwriting agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation (\"CFCC\"), as lead underwriter and sole bookrunner, and including Canaccord Genuity Corp., Echelon Wealth Partners Inc., Eight Capital, Haywood Securities Inc., and Raymond James Ltd (collectively with CFCC, the \"Underwriters\") to sell 2,330,000 Offered Units at a price to the public of C$4.30 per Offered Unit (the \"Offering Price\") for gross proceeds of C$10,019,000. Each Offered Unit is comprised of one (1) common share in the capital of the Company (each, a \"Common Share\") and one-half Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall entitle the holder to purchase one Common Share at C$5.50 at any time on or before the date which is 24 months after the Closing Date.The Company has granted to the Underwriters an option (the \"Over-Allotment Option\"), exercisable in whole or in part, in the sole discretion of the Underwriters, for a period of 30 days from and including the closing of the Offering, to purchase up to an additional 349,500 Offered Units at the Offering Price. If the Over-Allotment Option is exercised in full, the additional total gross proceeds to the Company will be approximately C$1.5 million. The Offered Units will be offered by way of a short form prospectus in Canada in the provinces of Ontario, British Columbia and Alberta and in the United States under a private placement. The Offered Units will not be offered or sold in the United States or to U.S. persons except under Rule 144A or Regulation D or in such other manner as to not require registration under the United States Securities Act of 1933, as amended. The Offered Units may also be offered in those jurisdictions outside of Canada and the United States as agreed to by the Company and the Underwriters provided that no prospectus filing or comparable obligation arises and the Company does not thereafter become subject to continuous disclosure o...