Aurania closes $7.77-million overnight unit offering
2021-04-01 09:07 MT - News Release
Aurania Resources Ltd. has closed its previously announced overnight marketed public offering of units of the company, including the exercise in full of the overallotment option. A total of 2,507,000 units were sold at a price of $3.10 per unit for gross proceeds of approximately $7.77-million. Each unit comprises one common share in the capital of the company and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at $4.25 at any time until April 1, 2024. The offering was completed pursuant to an underwriting agreement dated March 18, 2021, among the company and Cantor Fitzgerald Canada Corp., as lead underwriter and sole bookrunner, and a syndicate of underwriters including Canaccord Genuity Corp. and Echelon Wealth Partners Inc.
In connection with the offering, the company has paid to the underwriters a cash commission of 6 per cent of the gross proceeds from the offering and issued to the underwriters a number of compensation warrants equal to 6 per cent of the units sold under the offering. Each compensation warrant is exercisable into one unit at an exercise price of $4.25 until April 1, 2024.
The company is also pleased to announce that the TSX Venture Exchange has conditionally accepted for listing the 2,507,000 warrants underlying the units issued pursuant to the offering. The warrants are expected to be listed for trading on the TSX-V under the symbol ARU.WT.A on or about April 9, 2021.
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