Non-brokered offering funds acquisitions, general corporate purposes
By Devika Patel
Knoxville, Tenn., April 10 - Augyva Mining Resources Inc. said it raised C$1.23 million in the second tranche of a C$5 million non-brokered private placement of units. The company priced the deal to raise between C$3 million and C$5 million on April 7 and settled the initial tranche of C$3.27 million a few hours later.
The company is selling up to 43,478,260 units of one common share and one warrant at C$0.115 per unit. It sold 28,456,630 units in the first tranche and 10,671,743 units in the second.
Each warrant will be exercisable at C$0.14 for five years, with the first-tranche warrants expiring on April 7, 2019 and the second-tranche warrants expiring on April 8, 2019. The strike price is a 16.67% premium to the April 4 closing share price of C$0.12.
Proceeds will be used for acquisitions, general corporate purposes and working capital, including hiring a full-time chief executive officer and other staff.
Augyva is an iron ore, gold and base metals mining company based in La Macaza, Quebec.
| Issuer: | Augyva Mining Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5 million (maximum)
|
| Units: | 43,478,260 (maximum)
|
| Price: | C$0.115
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years, April 7, 2019, April 8, 2019
|
| Warrant strike price: | C$0.14
|
| Agent: | Non-brokered
|
| Pricing date: | April 7
|
| Settlement date: | April 7 (for C$3,272,513), April 10 (for C$1,227,251)
|
| Stock symbol: | TSX Venture: AUV
|
| Stock price: | C$0.12 at close April 4
|
| Market capitalization: | C$5.55 million
|
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