Aurania Resources Ltd (CVE:ARU) (OTCMKTS:AUIAF) (FRA:20Q) said it has closed a private placement previously announced on March 29, raising gross proceeds of C$1.25 million.
The company said a total of 403,709 units were sold in the placement, at a price of C$3.10 each. Each unit is comprised of one common share in the company and one share purchase warrant, each of which, entitles the holder to purchase one share at C$4.25, at any time until April 1, 2024.
Aurania said the proceeds are expected to be used for the exploration of its Peru concessions and for working capital and general corporate purposes.
The company added that it has also paid to the underwriters in the public offering a cash commission of 3% of the gross proceeds from the private placement.
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