MONTREAL, Feb. 11, 2019 (GLOBE NEWSWIRE) — Auxico Resources Canada Inc. (CSE: AUAG) is pleased to announce that it has completed a non-brokered private placement of 2,000,000 units (“Units“), issued at a price of $0.20 per Unit, for gross prceeds of $400,000. Each unit consists of one common share (a “Share“) and one-half transferable common share purchase warrant (“Warrant“). Each full Warrant entitles the holder to acquire one additional Share of the Company at a price of $0.40 per Share for two years from the date of issuance.
The Company paid finder’s fees of $28,000 in Connection with the private placement.Al Shares issued pursuant to the private placement are subject to a four-month hold period in Canada.
The net proceeds of the private placement will be used for evaluating coltan opportunities in Colombia and Brazil, as well as for general working capital purposes.
ON BEHALF OF THE BOARD OF DIRECTORS
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About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. (“Auxico”) is a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Mexico.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacey or the accuracy of the contents of this release.
Original Article: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2212-cse/auag/58059-auxico-closes-private-placement.html
