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Aurania Resources Announces Size and Pricing of Previously Announced Overnight Marketed Offering
Toronto, Ontario--(Newsfile Corp. - October 5, 2021) - Aurania Resources Ltd. (TSXV: ARU) (F...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Resources Announces Size and Pricing of Previously Announced Overnight Marketed OfferingToronto, Ontario--(Newsfile Corp. - October 5, 2021) - 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\"), it has entered into an underwriting agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation (\"CFCC\"), as sole bookrunner, and including Canaccord Genuity Corp. and Echelon Wealth Partners (collectively with CFCC, the \"Underwriters\") to sell 3,335,000 Offered Units at a price of $1.80 per Offered Unit (the \"Offering Price\") for gross proceeds of $6,003,000. Each Offered 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 $2.20 at any time on or before the date which is five years 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 500,250 Offered Units at the Offering Price. If the Over-Allotment Option is exercised in full, the total gross proceeds to the Company will be approximately $6,903,450.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\"), at the closing of the Offering. Each Broker Warrant shall entitle the Underwriters to purchase one Offered Unit at the issue price at any time on or before the date which is five years after the Closing Date.Concurrent Private PlacementThe Company will also be conducting a concurrent private placement financing (the \"Private Placement\") of units for gross proceeds of up to $2,000,000 on the same terms and conditions as the Offerin...