Two types of units sold through agent IBK Capital to fund exploration
By Devika Patel
Knoxville, Tenn., April 2 - Augustine Ventures Inc. said it has arranged a C$3.5 million private placement of units. IBK Capital Corp. is the agent and will conduct the deal on a best-efforts basis. This offering replaces an earlier financing for C$3 million that priced on Dec. 27.
The company will sell 19 million flow-through units of one flow-through common share and one half-share warrant at C$0.10 per unit.
The company also will sell 16 million non flow-through units of one common share and one warrant at C$0.10 per unit.
The whole warrants are exercisable at C$0.20 each for two years. The strike price is a 150% premium to the April 1 closing share price of C$0.08.
Proceeds will be used for exploration at Augustine's Wawa Gold Project and working capital purposes.
The gold exploration company is based in Toronto.
| Issuer: | Augustine Ventures Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, non flow-through units of one common share and one warrant
|
| Amount: | C$3.5 million
|
| Price: | C$0.10
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | IBK Capital Corp.
|
| Pricing date: | April 2
|
| Stock symbol: | CNSX: WAW
|
| Stock price: | C$0.08 at close April 1
|
|
|
| Flow-through units
|
| Amount: | C$1.4 million
|
| Units: | 19 million
|
| Warrants: | One half-share warrant per unit
|
|
|
| Non flow-through units
|
| Amount: | C$1.6 million
|
| Units: | 16 million
|
| Warrants: | One warrant per unit
|
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