Arya Resources Increases Flow-Through Financing to $2.19M
Arya Resources (RBZ.V) on Thursday said it increased the flow-through component of the previously announced non-brokered private placement to $2.19 million, from $2 million.The company said the upsized flow-through component will now consist of up to near 4.4-million flow-through common shares (FT shares) at $0.50 per FT share."We initially capped the flow-through financing at $2.0 million, with only a modest increase to $2.19 million to manage dilution prudently," said Arya Resources Chief Executive Rasool Mohammad. "While demand was strong, we elected not to accept additional subscriptions to maintain a disciplined capital structure and minimize dilution to our shareholders."The proceeds from the FT shares will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" and will be renounced to subscribers with an effective date no later than Dec. 31, 2026. Funds will be directed toward the continued advancement of its Saskatchewan exploration projects, including the Wedge Lake Gold project and the Dunlop Nickel-Copper-Cobalt project.Shares of the company were last seen unchanged at $0.45 on the TSX Venture Exchange.
