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Aurania Announces Non-Brokered Private Placement of Units

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Toronto, Ontario, September 13, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company” - https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/) announces that its board of directors has given its approval for a non-brokered private placement of up to 2,083,334 units (each a "Unit") at C$2.40 per Unit for gross proceeds of up to C$5 million, subject to receipt of all applicable regulatory approvals. Each unit will consist of one common share in the capital of the Company and one-half of one warrant, with each whole warrant exercisable into one common share at a price of C$3.00 for a period of 24 months after closing (the “Offering”).

Closing

Closing of the Offering may occur in one or more tranches but is anticipated to be completed on or about September 30, 2021, or such other date or dates that the Company may determine, subject to the receipt of all necessary regulatory approvals including (but not limited to) the receipt of approval from the TSX Venture Exchange.

Use of Proceeds

It is anticipated that the net proceeds from the Offering will be used to advance exploration in the Company’s Lost Cities – Cutucu Project in Ecuador, including drilling of gold, silver and copper targets, basic exploration including field work and sampling, corporate social responsibility work with communities within and immediately adjacent to the concession area, and for general working capital purposes. Notwithstanding the foregoing, there may be occasions where, for sound business reasons, management of the Company determines to vary the use of proceeds from those uses previously described, depending on future operations or unforeseen events or opportunities.

Hold Period

The securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period commencing on the day of the closing of the Offering under applicable Canadian securities laws. The Offering is subject to the approval of the TSX Venture Exchange.

Finders

Subject to the approval of the TSX Venture Exchange, the Company may pay finders’ fees to certain eligible finders of up to 7% in cash of the gross proceeds raised in the Offering with subscribers introduced to the Company by such finders.

 

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. 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:

#BBD0E0 »

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

[email protected]

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

[email protected]

THIS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

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