Tuesday, May 06, 2025
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Private placement financing. Aurania Resources closed the second and final tranche of its non-brokered private placement financing. A total of 2,569,022 units of the company were sold under the second tranche at a price of C$0.30 per unit. Including the first tranche which closed on April 17, Aurania issued 5,751,921 units for gross proceeds of C$1,725,577. Net proceeds will be used to fund general working capital needs and may be used to pay mineral concession fees in Ecuador.
Terms of the offering. Each unit is composed of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.55 for a period of 24 months following the closing of the date of issuance.
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