By Sheri Kasprzak
New York, Feb. 3 - Aurea Mining Inc. completed a previously announced private placement for C$1,352,500.
The company sold 5.41 million units at C$0.25 each.
The units consist of one share and one warrant. The warrants are exercisable at C$0.35 each for one year.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$0.60 for 10 consecutive trading days.
The non-brokered offering was priced on Jan. 18 as a C$1.25 million deal of 5 million units under the same terms.
Proceeds will be used for exploration on the company's mineral properties in Guerrero, Mexico. The rest will be used for debt repayment.
Based in Vancouver, B.C., Aurea is a mineral exploration company.
| Issuer: | Aurea Mining Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,352,500
|
| Units: | 5.41 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
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| Warrant strike price: | C$0.35
|
| Placement agent: | Non-brokered
|
| Pricing date: | Jan. 18
|
| Settlement date: | Feb. 3
|
| Stock symbol: | TSX Venture: MXA
|
| Stock price: | C$0.30 at close Jan. 18
|
| Stock price: | C$0.40 at close Feb. 3
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