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Aurania Resources Raises C$578,370.96 in Second Tranche of Private Placement

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Aurania Resources (ARU.V) raised C$578,370.96 from the second and final tranche of its non-brokered private placement of units, it said after markets closed Thursday.

The company sold around 3.21 million units under the second tranche at C$0.18 each, it said.

The company has now completed the offering and raised a total of around C$1.25 million by issuing around 6.98 million units in the offering, including the first tranche, stated Aurania.

Net proceeds are planned to be primarily used for exploration at the Thor's Valley epithermal gold project in Iceland, the Balangero nickel-cobalt tailings retreatment project in Italy, and for general working capital purposes, said Aurania.

Closing of the offering is subject to the receipt of all necessary regulatory approvals, it added.

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