Deal funds exploration of the Duncan Lake Property, working capital
By Devika Patel
Knoxville, Tenn., March 30 - Augyva Mining Resources Inc. said it completed a C$6.95 million private placement of units through underwriter Haywood Securities Inc. The offering priced for C$5 million with a C$3 million greenshoe on March 14.
The company sold 13,895,000 units of one common share and one half-share warrant at C$0.50 apiece on a bought deal basis. Of the units, 3,895,000 were part of the partially exercised greenshoe.
The whole warrants are exercisable at C$0.70 for two years. The strike price is a 32.08% premium to the March 11 closing share price of C$0.53.
Proceeds will be used for exploration and development of the Duncan Lake Property and for working capital and general corporate purposes.
Augyva is an iron ore, gold and base metals mining company based in La Macaza, Québec.
| Issuer: | Augyva Mining Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6,947,500 (including C$1,947,500 greenshoe exercise)
|
| Units: | 13,895,000
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | March 14
|
| Settlement date: | March 30
|
| Stock symbol: | TSX Venture: AUV
|
| Stock price: | C$0.53 at close March 11
|
| Market capitalization: | C$21.26 million
|
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