Auxico Resources Canada Inc. (CSE: AUAG) is pleased to announce that it has closed its non-brokered private placement, issuing a total of 9,744,000 units at a price of $0.50 per Unit raising gross proceeds of $4,872,000.
Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each full Warrant is exercisable at $1.00 for a period of 3 years from the date of issuance.
The Company paid finder’s fees of $276,100 in connection with the Private Placement.
All securities issued are subject to a statutory four month hold period from the Closing Date.
The net proceeds of the private placement will be used to increase the trading of manganese ore from Brazil, as well as for general working capital.
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. 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, Brazil, Mexico and the Democratic Republic of the Congo.
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We acknowledge the [financial] support of the Government of Canada.