Aguia Resources Limited (ASX: AGR) (TSX-V: AGRL) is pleased to announce that it has closed its previously announced private placement financing for gross proceeds of $2,922,103.32. These funds were raised in connection with the issuance of 24,350,861 ordinary shares via a non-brokered private placement to sophisticated and institutional investors at a price of $0.12 per Ordinary Share. 

The Company intends to use the proceeds from the Placement as follows:

• Ongoing exploration of the Rio Grande Copper prospects (Big Ranch and Canhada) to include drilling and assays;
• Evaluation and acquisition of additional properties around Big Ranch and Canhada;
• Finalization of environmental permitting for the Três Estradas phosphate deposit including public hearings to obtain the Preliminary License;
• 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 are subject to a hold period expiring on April 18, 2019. 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 Rules.  In connection with the Placement Aguia has paid cash finders fees of A$103,126.19 and issued 601,667 ordinary shares to finders.

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.

About Aguia:

Aguia Resources Limited, 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.