21st Jun 2016 08:17
LONDON (Alliance News) - Aureus Mining Inc on Tuesday said it has closed tranche 1 of the equity financing with MNG Gold Jersey Ltd, after raising USD15 million through a share issue.
The mining company issued 59.5 million shares at 3.21 pence each and a promissory note for USD12.3 million to raise the proceeds.
Tranche 2 of the equity financing, which is for proceeds of a further USD15 million, is to be completed upon clearance by the Toronto Stock Exchange of the required personal information forms and receipt of the required AIM approvals.
On completion of tranche 2 the promissory note is automatically convertible into shares, Aureus said.
Shares in Aureus Mining were trading down 7.3% at 3.94 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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