Aurania Resources Announces Size and Pricing of Previously Announced Overnight Marketed Offering
TSX-V: ARU
NR 2021-12
AURANIA RESOURCES ANNOUNCES SIZE AND PRICING OF PREVIOUSLY ANNOUNCED
OVERNIGHT MARKETED OFFERING
Not for distribution to United States newswire services or for dissemination in the United States
Toronto, Ontario, March 18, 2021 – Aurania Resources Ltd. (TSXV: ARU) (Frankfurt: 20Q)
(“Aurania” or the “Company”) announces that, further to its previously announced overnight marketed
public offering (the “Offering”) of units of the Company (the “Offered Units”), it has entered into a n
underwriting agreement with a syndicate of underwriters led by Cantor Fitzgerald Canada Corporation
(“CFCC”), as sole bookrunner, and including Canaccord Genuity Corp. and Echelon Wealth Partners
(collectively with CFCC, the “Underwriters”) to sell 2,180,000 Offered Units at a price to the public of
$3.10 per Offered Unit (the “Offering Price”) for gross proceeds of $6,758,000. Each Offered Unit is
comprised of one common share in the capital of the Company (each, a “Common Share”) and one Common
Share pu rchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to
purchase one Common Share at $4.25 at any time on or before the date which is 36 months after the Closing
Date.
The Company has granted to the Underwriters an option (the “Over -Allotment Option”), exercisable in
whole or in part, in the sole discretion of the Underwriters, for a period of 30 days from and including the
closing of the Offering, to purchase up to an additional 327,000 Offered Units at the Offering Price. If the
Over-Allotment Option is exercised in full, the total gross proceeds to the Company will be approximately
$7,771,700.
The Company will pay the Underwriters a cash commission equal to 6.0% of the gross proceeds of the
Offering, including proceeds received from the exercise of the Over-Allotment Option, in addition to broker
warrants to purchase up to 6.0% of the number of Offered Units, including the Offered Units from the
exercise of the Over-Allotment Option sold in the Offering (the “Broker Warrants”), at the closing of the
Offering. Each Broker Warrant shall entitle the Underwriters to purchase one Offered Unit at the issue price
at any time on or before the date which is 36 months after the Closing Date.
The Offered Units will be offered by way of a short form prospectus in Canada in the provinces of Ontario,
British Columbia and Alberta. The Offered Units will not be offered or sold in the United States or to, or
for the account or benefit of “U.S. person” (as defined in Regulation S under the United States Securities
Act of 1933, as amended (the “U.S. Securities Act”)) except under Rule 144A or Regulation D under the
U.S. Securities Act. The Offered Units may also be offered in those jurisdictions outside of Canada and the
United States as agreed to by the Company and the Underwriters provided that no prospectus filing or
comparable obligation arises and the Company does not thereafter become subject to continuous disclosure
obligations in such jurisdictions.
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The Company will also have the right to conduct a concurrent private placement financing (the “Private
Placement”) of Units for gross proceeds of up to $1,250,000 on the same terms and conditions as the
Offering.
The Offering and Private Placement are expected to close on or about April 8, 2021 (the “Closing Date”)
and will be subject to certain conditions including, but not limited to, the receipt of all necessary approvals
including the approval of the TSX Venture Exchange of the listing of the Common Shares and Warrants
(including the Common Shares and Warrants comprising the Units, the Common Shares issuable upon the
exercise of the Warrants, and the Warrant s and Common Shares issuable pursuant to the exercise of the
Broker Warrants).
Anticipated uses of the proceeds of the Offering will be used for exploration expenditures at the Company’s
Lost Cities – Cutucu Project in Ecuador and for working capital and general corporate purposes. Any net
proceeds received from the Private Placement will be applied to the exploration of the Company’s Peru
concessions and for working capital purposes.
The preliminary short form prospectus is available on SEDAR at www.sedar.com. Alternatively, a written
prospectus relating to the Offering may be obtained upon request by contacting the Company or Cantor
Fitzgerald Canada Corporation in Canada, attention: Equity Capital Markets, 181 University Avenue, Suite
1500, Toronto, ON, M5H 3M7, email: [email protected].
The Offered Units and securities underlying them, have not been, and will not be, registered under the U.S.
Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of,
“U.S. persons” (as defined in Regulation S under the U.S. Securities Act) absent registration or an
applicable exemption from the registration requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the Offered Units in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of that jurisdiction.
About Aurania
Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and
exploration of mineral property interests, with a focus on precious metals and copper in South America. Its
flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern
foothills of the Andes mountain range of southeastern Ecuador.
Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as
well as on Facebook at https://www.facebook.com/auranialtd/ , Twitter at https://twitter.com/auranialtd,
and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.
For further information, please contact:
Carolyn Muir
VP Investor Relations
Aurania Resources Ltd.
(416) 367-3200
Dr. Richard Spencer
President
Aurania Resources Ltd.
(416) 367-3200
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Forward-Looking Statements
This news release may contain forward-looking information that involves substantial known and unknown
risks and uncertainties, most of which are beyond the control of Aurania. Forward -looking statements
include estimates and statements that describe Aurania’s future plans, objectives or goals, including words
to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, or “plan”. Since forward- looking statements are based on assumptions and
address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Although these statements are based on information current ly available to Aurania, Aurania provides no
assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward- looking information.
Forward looking information in this news release includes, but is not limited to, the anticipated size of the
Offering, the anticipated Offering Price, the entering into of the underwriting agreement and the completion
of the Offering, the anticipated use of the net proceeds from the Offering, the receipt of all necessary
approvals, including the approval of the TSX Venture Exchange, Aurania’s objectives, goals or future
plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury,
management team and enhanced capital markets profile, the estimation of mineral resources, exploration
and mine development plans, tim ing of the commencement of operations and estimates of market
conditions. Factors that could cause actual results to differ materially from such forward -looking
information include, but are not limited to, failure to identify mineral resources, failure to convert estimated
mineral resources to reserves, the inability to complete a feasibility study which recommends a production
decision, the preliminary nature of metallurgical test results, the potential impact of COVID-19, delays in
obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals,
political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the
availability and costs of financing needed in the future, changes in equity markets, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and
operating costs varying significantly from estimates and the other risks involved in the mineral exploration
and development industry, and those risks set out in Aurania’s public documents filed on SEDAR. Although
Aurania believes that the assumptions and factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on such information, which only applies
as of the date of this news release, and no assurance can be given that such events will occur in the disclosed
time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, other than as required by
law.