Aguia Private Placement
Jul 04, 2019
TORONTO,-- 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 AUD$2,535,394.80. These funds were raised in connection with the issuance of 21,128,290 Ordinary Shares (the “Ordinary Shares”) via a non-brokered private placement to sophisticated and institutional investors at a price of AUD$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.
The issue of the Ordinary Shares has been completed in accordance with the Company’s existing placement capacity pursuant to the ASX Listing Rule 7.1. The Company expects that the new shares to be issued will be allotted on or before July 8, 2019.
The securities described herein have not been, and will not be, registered under the U.S. Securities Act or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Aguia Resources Limited, (“Aguia”) is an ASX and TSX Venture listed company whose primary focus is on the exploration and development of mineral resource projects in Brazil. Aguia has an established and highly experienced in-country team based in Belo Horizonte, Brazil with corporate offices in Sydney, Australia. Aguia’s key projects are located in Rio Grande do Sul, a prime farming area which is 100% dependent on phosphate imports. The Rio Grande phosphate deposits exhibit high quality and low cost production characteristics, and are ideally located with proximity to road, rail, and port infrastructure. Aguia’s experienced management team has a proven track record of advancing high quality mining assets to production in Brazil.
This press release contains "forward-looking information" within the meaning of applicable Canadian and Australian securities legislation. Forward-looking information includes, without limitation; the use of proceeds of the Placement, the anticipated timetable, permitting, forecast financial information, bankable feasibility study and ability to finance the project, and the prospectivity of Aguia’s projects.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com, on the ASX website at www.asx.com.au and on the Company's website at www.aguiaresouces.com.au. These risks should be considered carefully.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Persons reading this news release are cautioned that such statements are only predictions and there can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intent or obligation to update or revise any forward looking statements whether as a result of new information, estimates, options, future events, results or otherwise and does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Tags: Wire, Profitwire, North America, English