- Aurania Resources (OTCQB:AUIAF) is undertaking an overnight marketed public offering of units for gross proceeds of up to C$10M and a concurrent private placement of units for up to C$2M.
- The company will grant the underwriters a 30-day option to buy an additional 15% of the number of offered units sold in the offering.
- The company will be conducting the concurrent private placement financing of units on the same terms and conditions as the offering. The Private Placement will supersede the non-brokered private placement of units previously announced on Sept. 13.
- The company expects to use the proceeds for exploration expenditures at the company's Lost Cities - Cutucu Project in Ecuador and for working capital and general corporate purposes.