15th Jul 2016 17:47
LONDON (Alliance News) - Aureus Mining Inc on Friday said it has closed the second tranche of equity financing with MNG Gold Jersey Ltd, raising USD15 million through the issue of 331.1 million shares at 3.21 pence each.
Aureus has now raised USD30 million in total, having raised the first USD15 million in tranche 1 of the equity financing in June, through the placing of 59.5 million shares also at 3.21p and a promissory note for USD12.3 million.
Following the closing of tranche 2, the previously-disclosed management changes have now become effective. These include the resignations of Aureus' Chief Executive David Reading and Chief Financial Officer Paul Thomson.
Reading has been replaced as CEO by MNG's General Manager Serhan Umurhan, while Thomson has been replaced as CFO by MNG's CFO Geoff Eyre. MNG's owner Mehmet Nazif Gunal has also joined the Aureus board as non-executive chairman.
MNG now holds a 55% stake in Aureus.
The funds will be used for the restart of operations at the New Liberty gold mine in Liberia.
Shares in Aureus closed down 4.2% at 4.55 pence on Friday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.