By Devika Patel
Knoxville, Tenn., June 15 - Aura Minerals Inc. said it plans a C$100.1 million private placement of subscription receipts.
The company will sell 182 million receipts at C$0.55 apiece.
The offering will be conducted through a syndicate of agents led by Canaccord Capital Corp. The underwriters have a C$25.03 million greenshoe.
All of the funds raised in this deal will immediately go into escrow and each subscription receipt will automatically convert into one common share on the escrow release date.
The company plans to use the proceeds toward the acquisition of the San Andrés Gold Mine from Yamana Gold Inc.
The escrowed funds will be released from escrow immediately prior to the mine acquisition's closing.
Aura Minerals is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Aura Minerals Inc.
|
| Issue: | Subscription receipts convertible into common shares
|
| Amount: | C$100.1 million
|
| Greenshoe: | C$25,025,000
|
| Receipts: | 182 million
|
| Price: | C$0.55
|
| Warrants: | No
|
| Agent: | Canaccord Capital Corp. (lead)
|
| Pricing date: | June 15
|
| Stock symbol: | Toronto: ORA
|
| Stock price: | C$0.64 at close June 12
|
| Market capitalization: | C$355 million
|
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