By Laura Lutz
Des Moines, June 14 - Augusta Resource Corp. is preparing to close a private placement of shares for C$37,519,394.
The company has agreed to sell 10,719,827 common shares at C$3.50 each.
have subscribed for 71% of the offering. Two funds managed by Harbinger Capital Partners have subscribed for the remaining 29%.
Following settlement, Sumitomo will hold an 8.7% interest in Augusta and Harbinger will hold a 19.9% interest.
The placement will be non-brokered.
Proceeds will be used for long-lead capital equipment and working capital.
Augusta is a mineral exploration and development company based in Vancouver, B.C.
| Issuer: | Augusta Resource Corp.
|
| Issue: | Common shares
|
| Amount: | C$37,519,394
|
| Shares: | 10,719,827
|
| Price: | C$3.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investors: | Sumitomo Corp. and Sumitomo Corp. of America (for 71%); two funds managed by Harbinger Capital Partners (for 29%)
|
| Pricing date: | June 14
|
| Stock symbol: | Toronto: AZC
|
| Stock price: | C$3.10 at close June 14
|
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