SYDNEY, Australia, April 1, 2019 – Aguia Resources Limited (ASX: AGR, TSXV: AGRL) (“Aguia” or “Company”) is pleased to announce that it has closed a private placement financing for gross proceeds of A$874,708.44. These funds were raised in connection with the issuance of 7,289,237 Ordinary Shares (the “Ordinary Shares”) via a non-brokered private placement to sophisticated and institutional investors at a price of A$0.12 per Ordinary Share (the “Placement”).
The Company intends to use the proceeds from the Placement as follows:
- Ongoing exploration of the Rio Grande Copper prospects;
- Finalization of environmental permitting for the Três Estradas phosphate deposit;
- Previously announced payments for acquisition of copper and phosphate properties;
- Strengthening the balance sheet; and
- Lease maintenance and general working capital purposes.
Each Ordinary Share issued will rank equally with existing Ordinary Shares. All Ordinary Shares issued pursuant to the Placement are fully tradeable and listed on the ASX or TSX Venture Exchange. The Ordinary Shares issued in connection with the Placement that are listed on the TSX Venture Exchange will be subject to a 4 month hold period from the date of issue. The hold period does not apply to ASX Ordinary Shares. Closing of the Placement remains subject to customary closing conditions including, but not limited to, the final approval of securities regulatory authorities, the Australian Stock Exchange and the TSX Venture Exchange.