OTTAWA, ONTARIO–(Marketwired – Feb. 1, 2017) – Aura Silver Resources Inc. (TSX VENTURE:AUU) (“Aura Silver” or the “Company”) announces that it has closed the second and final tranche of its non-brokered private placement of units raising aggregate proceeds of $500,000 in both tranches (the “Offering”). A total of 14,285,714 units were issued to investors at $0.035 per unit.
Each unit consisted of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company at a price of $0.05 per share for a period of 36 months following the dates of issuance (“Warrants”).
In connection with both tranches of the Offering, the Company has paid eligible finders cash commissions in the amount of $11,071 being 8% of the aggregate proceeds from the sale of units to purchasers introduced by the finders as well as issued an aggregate of 316,309 compensation options (each a “Compensation Option”), which is equal to 8% of the number of units sold to purchasers introduced by the finders. Each Compensation Option entitles the finder to acquire a unit (comprising a common share and a Warrant) at an exercise price of $0.05 and is exercisable for 36 months following the dates of issuance.