-- Astra Exploration (ASTR.V) entered into a $10 million bought deal private placement, the company said Wednesday.
The agreement is with a syndicate of investment dealers that has agreed to purchase, on a bought deal private placement basis, 12,988,000 common shares of the company at a price of C$0.77 each, it added.
Underwriters have been granted an option, exercisable in whole or in part at any time prior to closing date, to purchase an additional 1,948,200 shares at the issue price for additional gross proceeds of up to near C$1.5 million, the company said.
The company intends to use net proceeds from the offering for exploration and development of the La Manchuria project and for general corporate and working capital purposes, it added.
The offering is expected to close on or about April 30, 2026, or on such other date as may be agreed to by the company and the underwriters, the company said. Completion of the offering is subject to customary conditions, it added.
The company's shares were last seen up $0.03 at $0.87 on the TSX Venture Exchange, having touched a fresh 52 week high of $0.88.
Price: $0.87, Change: $+0.03, Percent Change: +3.57%