Business
Aurania Resources Announces Closing of Overnight Marketed Public Offering Raising Gross Proceeds of $6.9 Million and Upsize of Concurrent Private Placement
Toronto, Ontario--(Newsfile Corp. - October 21, 2021) - Aurania Resources Ltd. (TSXV: ARU) (F...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Resources Announces Closing of Overnight Marketed Public Offering Raising Gross Proceeds of $6.9 Million and Upsize of Concurrent Private PlacementToronto, Ontario--(Newsfile Corp. - October 21, 2021) - Aurania Resources Ltd. (TSXV: ARU) (FSE: 20Q) (\"Aurania\" or the \"Company\") announces that the Company has closed its previously announced overnight marketed public offering of units of the Company (the \"Units\"), including the exercise in full by the Underwriters (as defined below) of the over-allotment option (the \"Offering\"). The Offering was completed pursuant to a short form prospectus dated October 14, 2021 and filed in the provinces of Ontario, British Columbia and Alberta.A total of 3,835,250 Units were sold in the Offering at a price of $1.80 per Unit (the \"Offering Price\"), for gross proceeds to the Company of approximately $6.9 million. Each Unit is comprised of one common share in the capital of the Company (each, a \"Common Share\") and one Common Share purchase warrant (each, a \"Warrant\"). Each Warrant shall entitle the holder to purchase one Common Share at an exercise of $2.20 at any time until October 21, 2026. The Offering was completed pursuant to an underwriting agreement dated October 5, 2021 (the \"Underwriting Agreement\") among 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\").In connection with the Offering, the Company has paid to the Underwriters a cash commission of 6% of the gross proceeds from the Offering and issued to the Underwriters a number of compensation units equal to 6% of the Units sold under the Public Offering (the \"Compensation Units\"). Each Compensation Unit is exercisable into a Unit at the Offering Price until October 21, 2026.The Company is also pleased to announce that its previously announced non-brokered private placement of Units that is being conducted alongside the Offering (the \"Concurrent Private Placement\"), will be increased to up to 1,256,037 Units, resulting in gross proceeds to the Company of up to $2,260,866.60 (up-sized from gross proceeds of up to $2,000,000 as previously disclosed in the Company's press release issued on October 5, 2021 in respect of the Offering and ...