06:58:15 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Augustine Ventures Inc
Symbol WAW
Shares Issued 35,776,790
Close 2015-02-25 C$ 0.045
Market Cap C$ 1,609,956
Recent Sedar Documents

Augustine Ventures closes $45,000 (U.S.) placement

2015-02-27 11:31 ET - News Release

Mr. Robert Dodds reports

AUGUSTINE ANNOUNCES $45,000 US INTERIM PRIVATE PLACEMENT FINANCING AND DEBT CONVERSION AGREEMENTS

Augustine Ventures Inc. has closed on an offering of one million units at a price of 4.5 U.S. cents per unit for gross proceeds of $45,000 (U.S.).

The offering was completed pursuant to a private placement to raise up to $700,000 through a financing arrangement with IBK Capital Corp., under which IBK has agreed to conduct a best-efforts private placement financing (for further information please see Augustine's news release dated Dec. 12, 2014). This interim placement follows interim placements of Feb. 9, 2015 (for further information please see Augustine's news release dated Feb. 9, 2015).

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holders thereof to acquire one common share in the capital of Augustine at an exercise price of five cents, or 4.5 U.S. cents, per warrant share at any time until close of business on Feb. 25, 2019.

In addition, the corporation issued an aggregate of 5,302,528 non-flow-through units in exchange for the cancellation of an aggregate of $265,126 in debt owed to several creditors. Of the debt units, 5,062,528 consisted of one common share and one common share purchase warrant. Each debt warrant entitles the holders thereof to acquire one common share in the capital of Augustine at an exercise price of five cents per debt warrant share at any time until close of business on Feb. 25, 2019. Of the debt warrants, 240,000 have an exercise price of 10 cents per debt warrant share.

All securities issued pursuant to the offerings are subject to statutory four-month hold period expiring on June 26, 2015.

The proceeds from this financing will be used for exploration purposes at Augustine's Wawa gold project and for working capital purposes.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.