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AUGEN GOLD CORP. ANNOUNCES CLOSING OF BROKERED FINANCING OF $766,000
AUGEN GOLD CORP. ANNOUNCES CLOSING OF BROKERED FINANCING OF $766,000
About this update from Gold Finder Resources Ltd.
[{"type":"text","content":"\n\n\n\n Sep. 2, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n\n\n\n Shares outstanding: 81,096,847\n \n\n\n\n TORONTO, Sept. 2 /CNW/ - Augen Gold Corp. ("Augen Gold" or "the\n Company") (TSX-V: GLD) is pleased to announce the first closing\n yesterday of the private placement financing previously announced on\n August 13, 2010. Industrial Alliance Securities and Secutor Capital\n Management Corporation acted as co-lead Agents (collectively, the\n "Agents") on this brokered private placement.\n \n\n The private placement consisted of 1,110,000 Flow-Through Units at $0.22\n per Flow-Through Unit for gross proceeds of $244,200, and 3,070,000\n Units at $0.17 per Unit for gross proceeds of $521,900.  The total gross\n proceeds were $766,100, and Augen Gold intends to complete further\n closings for aggregate gross proceeds of $2,000,000 on the terms as\n announced on August 13, 2010.\n \n\n Each Flow-Through Unit will consist of one common share, issued on a\n flow-through basis, and one common share purchase warrant of the Company\n (a "Warrant").  Each Unit will consist of one common share of the\n Company and one Warrant. Each Warrant entitles the holder to purchase\n one common share at a price of $0.25 until March 1, 2012.\n \n\n The securities issued pursuant to the private placement are subject to\n trade restrictions expiring on January 2, 2011 pursuant to applicable\n securities laws. Compensation to the Agents consisted of a cash\n commission of $61,288 and 334,400 agent's warrants, each such agent's\n warrant entitling the holder to acquire one common share for $0.25 until\n March 1, 2012.\n \n\n Net proceeds of the financing will be used to fund exploration and for\n working capital purposes. The aggregate proceeds raised from the\n issuance of the flow-through common shares and units will be used by the\n company to incur exploration expenditures on its properties in ...