Aurania Resources Announces Closing of $10 Million Offering
On October 1, 2020 Aurania Resources Ltd. (“Aurania” or the “Company”) announced that further to its previously announced overnight marketed public offering (the “Offering”) of units of the Company (the “Offered Units”) on September 30, 2020, it has entered into an underwriting agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, and including Canaccord Genuity Corp., Echelon Wealth Partners Inc., Eight Capital, Haywood Securities Inc., and Raymond James Ltd. to sell 2,330,000 Offered Units at a price to the public of C$4.30 per Offered Unit for gross proceeds of C$10,019,000. The Offering is expected to close on or about October 14, 2020.
Anticipated use of the proceeds of the Offering are for exploration and development expenditures at the Company’s Lost Cities – Cutucu Project in Ecuador, initial exploration in adjacent Peru and for working capital and general corporate purposes.
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
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