Aurania Closes Private Placement Financing

Core Points - Aurania Resources Ltd. has successfully closed a non-brokered private placement, raising gross proceeds of C$771,776.92 through the issuance of 6,431,466 units at a price of C$0.12 per unit [1][4] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one share at C$0.25 for 24 months [2] - The net proceeds will primarily fund a preliminary economic assessment on the Balangero tailings retreatment project in Italy, exploration programs, and general working capital [4] Offering Details - The offering included finder's fees of C$2,805.60 and 23,380 compensation warrants, each allowing the acquisition of one unit at C$0.12 for 24 months [3] - The closing of the offering is subject to necessary regulatory approvals, including final approval from the TSX Venture Exchange [5] Related Party Transactions - Dr. Keith Barron, CEO and director, acquired 4,166,666 units in the offering, constituting a related party transaction [6] - Following the acquisition, Dr. Barron holds approximately 45.05% of the issued and outstanding common shares on a non-diluted basis [7][8] Company Overview - Aurania is focused on mineral exploration, particularly in precious metals and critical energy sectors in Europe and abroad [11]