Aurania Resources Raises Over $6 Million in Marketed Offering
Aurania Resources Ltd. announced it has raised $6,003,000 through a marketed offering of units, each consisting of a share and a warrant. Funds will support exploration at its Ecuador project.
Toronto, Ontario – Mineral exploration company Aurania Resources Ltd. announced on Tuesday that it has raised $6,003,000 through a marketed public offering. The company sold 3,335,000 units at $1.80 per unit. Each unit comprises one common share and one common share purchase warrant.
The offering includes an option for underwriters to purchase an additional 500,250 units, potentially increasing total proceeds to approximately $6,903,450 if exercised. The company will pay underwriting commissions and issue broker warrants.
Aurania Resources intends to use the net proceeds for exploration expenditures at its Lost Cities – Cutucu Project in Ecuador. The remaining funds will be allocated to working capital and general corporate purposes.
The company also announced a concurrent private placement financing of up to $2,000,000 on the same terms as the public offering. The financings are expected to close on or about October 20, 2021, subject to regulatory approvals.