Toronto (pcJ News Briefs) – Aurania Resources Ltd. (TSX-V: ARU) has completed its previously announced financing of 3,200,890 subscription receipts at $2.00 per subscription receipt for aggregate gross proceeds of $6,401,780.
Aurania Resources issued an aggregate of 1,695,000 subscription receipts for gross proceeds of approximately $3,390,000 pursuant to the brokered offering co-led by Maison Placements Canada Inc. together with Red Cloud Klondike Strike Inc., and 1,505,890 subscription receipts for gross proceeds of approximately C$3,011,780 pursuant to concurrent non-brokered offering.
Proceeds will be used to fund the previously announced acquisition of EcuaSolidus S.A.
On March 1, 2017, Aurania Resources announced the proposed acquisition of a related party company that holds all rights, title and interest in 42 mineral exploration licences covering 207,764 hectares (approx. 2,080 square kilometre) over the core of the Cordillera de Cutucu, a mountain range in the foothills of the Andes, in Ecuador.
photo credit: Aurania Resources