AuMEGA Metals Closes the Second Tranche of Private Placement Financing
AuMEGA Metals has completed the second tranche of its private placement financing, raising C$7.3 million through the issuance of 128,035,776 ordinary shares. The placement included hard dollars shares at C$0.050 per share and flow-through shares at C$0.06 and C$0.06825 per share. Combined with the first tranche that raised C$8.77 million, the total offering amounts to C$16.07 million.
The proceeds will fund the company's exploration program in Newfoundland and Labrador, including a planned 20,000-metre drill program at the Bunker Hill Project, and exploration activities at Hermitage and Malachite. The company paid approximately C$775,150 in total finder's fees for both tranches. The securities are subject to a four-month hold period in Canada.
AuMEGA Metals ha completato la seconda tranche del suo finanziamento attraverso collocamento privato, raccogliendo C$7,3 milioni tramite l'emissione di 128.035.776 azioni ordinarie. Il collocamento ha incluso azioni a pagamento in contante a C$0,050 per azione e azioni flow-through a C$0,06 e C$0,06825 per azione. Combinato con la prima tranche che ha raccolto C$8,77 milioni, l'offerta totale ammonta a C$16,07 milioni.
I proventi finanzieranno il programma di esplorazione della società in Newfoundland e Labrador, inclusa una prevista campagna di perforazione di 20.000 metri presso il progetto Bunker Hill e le attività di esplorazione a Hermitage e Malachite. La società ha pagato circa C$775.150 in totale di commissioni per intermediari per entrambe le tranche. I titoli sono soggetti a un periodo di blocco di quattro mesi in Canada.
AuMEGA Metals ha completado la segunda tranche de su financiación mediante colocación privada, recaudando C$7.3 millones a través de la emisión de 128,035,776 acciones ordinarias. La colocación incluyó acciones en efectivo a C$0.050 por acción y acciones flow-through a C$0.06 y C$0.06825 por acción. Combinado con la primera tranche que recaudó C$8.77 millones, la oferta total asciende a C$16.07 millones.
Los ingresos financiarán el programa de exploración de la empresa en Newfoundland y Labrador, incluyendo un programa de perforación planificado de 20,000 metros en el Proyecto Bunker Hill y actividades de exploración en Hermitage y Malachite. La compañía pagó aproximadamente C$775,150 en total de comisiones por intermediarios por ambas tranches. Los valores están sujetos a un período de restricción de cuatro meses en Canadá.
AuMEGA Metals는 개인 투자 유치의 두 번째 분할을 완료하고, 128,035,776주의 보통주 발행을 통해 C$7.3 백만을 모금했습니다. 이번 유치에는 주당 C$0.050의 현금 주식과 주당 C$0.06 및 C$0.06825의 흐름 주가 포함되었습니다. 첫 번째 분할에서 C$8.77 백만을 모금하여 총 제공 금액은 C$16.07 백만에 달합니다.
수익금은 뉴펀들랜드 및 래브라도에서 회사의 탐사 프로그램을 지원하며, Bunker Hill 프로젝트에서 계획된 20,000미터 드릴링 프로그램과 Hermitage 및 Malachite에서의 탐사 활동에 사용될 것입니다. 회사는 두 분할에 대해 총 C$775,150의 중개 수수료를 지급했습니다. 이 증권은 캐나다에서 4개월의 보유 기간이 적용됩니다.
AuMEGA Metals a achevé la deuxième tranche de son financement par placement privé, levant C$7,3 millions grâce à l'émission de 128 035 776 actions ordinaires. Le placement comprenait des actions au comptant à C$0,050 par action et des actions à flux à C$0,06 et C$0,06825 par action. Combiné avec la première tranche qui a levé C$8,77 millions, le montant total de l'offre s'élève à C$16,07 millions.
Les recettes serviront à financer le programme d'exploration de la société à Terre-Neuve-et-Labrador, y compris un programme de forage prévu de 20 000 mètres au Projet Bunker Hill, ainsi que des activités d'exploration à Hermitage et Malachite. L'entreprise a payé environ C$775 150 en frais de courtage au total pour les deux tranches. Les titres sont soumis à une période de blocage de quatre mois au Canada.
AuMEGA Metals hat die zweite Tranche seiner privaten Platzierungsfinanzierung abgeschlossen und C$7,3 Millionen durch die Emission von 128.035.776 Stammaktien gesammelt. Die Platzierung umfasste Barmittelaktien zu C$0,050 pro Aktie sowie Durchlaufaktien zu C$0,06 und C$0,06825 pro Aktie. Zusammen mit der ersten Tranche, die C$8,77 Millionen einbrachte, beläuft sich das gesamte Angebot auf C$16,07 Millionen.
Die Einnahmen dienen zur Finanzierung des Erkundungsprogramms des Unternehmens in Newfoundland und Labrador, einschließlich eines geplanten Bohrprogramms über 20.000 Meter im Bunker Hill Projekt sowie Erkundungsaktivitäten in Hermitage und Malachite. Das Unternehmen zahlte insgesamt etwa C$775.150 an Maklergebühren für beide Tranchen. Die Wertpapiere unterliegen in Kanada einer Haltedauer von vier Monaten.
- Successful completion of C$16.07 million total financing
- Planned 20,000-metre drill program - largest in three years
- Premium pricing achieved for flow-through shares
- Significant share dilution with issuance of 259,188,665 new shares
- Substantial finder's fees of C$775,150 reducing net proceeds
Edmonton, Alberta--(Newsfile Corp. - December 10, 2024) - AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) (formerly Matador Mining Ltd) ("AuMEGA" or "the Company") is pleased to announce the closing of the second and final closing of its previously announced financing (the "Tranche Two Placement") following shareholder approval at the Company's Special Shareholder Meeting on 4 December 2024.
Under the Tranche Two Placement, the Company issued an aggregate of 128,035,776 ordinary shares ("New Shares") to institutional, professional and accredited investors for aggregate gross proceeds of C
- Hard Dollars: 65,236,111 New Shares at a price of C
$0.05 0/A$0.05 4 per share; and - Flow Through: Constituting as "flow-through shares" as defined in subsection 66(15) of the Income Tax Act (Canada) as follows:
- Traditional Flow Through: 34,299,666 New Shares at a price of C
$0.06 /A$0.06 5 per share - Premium Flow Through: 28,500,000 New Shares at a premium flow through price of at a price of C
$0.06 825/A$0.07 408 per share
- Traditional Flow Through: 34,299,666 New Shares at a price of C
The Tranche Two Placement was in addition to the previously announced first tranche closing (the "Tranche One Placement", together with the Tranche Two Placement, the "Offering"), whereby the Company issued 131,152,889 ordinary shares to institutional, professional and accredited investors for aggregate gross proceeds of C
Certain directors and officers of the Company participated in the Tranche Two Placement and subscribed for an aggregate of 1,366,666 ordinary shares, making it a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such participation is exempt from the formal valuation per section 5.5(b) of MI 61-101, and minority shareholder approval requirements per section 5.7(1)(a) of MI 61-101, as neither the fair market value of any shares issued to or the consideration paid by such insiders exceeds 25 percent of the Company's market capitalisation. The Company filed a material change report more than 21 days before the date of the Tranche Two Placement closing.
The proceeds from the Financing will be used primarily to advance the Company's exploration program in Newfoundland and Labrador, which is expected to include the Company's largest drill program in the last three years of up to 20,000 metres with an aim to grow the existing Mineral Resource and discovery at the highly prospective Bunker Hill Project. Additionally, the Company will continue to invest in early-stage exploration activities to further define and advance new and existing targets at Hermitage and Malachite. Finally, proceeds from the Financing will also be used for working capital and general corporate purposes.
The New Shares were issued pursuant to an exemption from the prospectus requirements under Canadian securities laws pursuant to Section 2.16 of National Instrument 45-106. All securities will be subject to a hold period in Canada of four months plus a day from the date of issuance and rules on the resale of the securities in Canada will apply in accordance with applicable Canadian securities laws. The hold period for New Shares sold in the Tranche Two Placement ends on April 7, 2025 for the New Shares that are traditional flow-through shares and premium flow-through shares and ends on April 10, 2025 for the New Shares that are hard-dollar shares. Securities issued to non-Canadian investors for trading on ASX will be freely tradeable.
AuMEGA paid aggregate finders' of approximately C
The Offering remains subject to the receipt of final approval from the TSXV.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
- ENDS -
This announcement has been authorised for release by the Company's Board of Directors.
To learn more about the Company, please visit www.aumegametals.com, or contact:
Sam Pazuki, Managing Director & CEO
Canada Phone: +1 780 665 4925
Australia Phone: +61 8 6117 0478
Email: info@aumegametals.com
About the Company
AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) is utilising best-in-class exploration methodologies to explore on its district scale land package that spans 110 kilometers along the Cape Ray Shear Zone, a significant under-explored geological feature recognised as Newfoundland, Canada's largest identified gold structure. This zone currently hosts Calibre Mining's Valentine Gold Project, which is the region's largest gold deposit (+5 million ounces), along with AuMEGA's expanding Mineral Resource.
The Company is supported by a diverse shareholder registry of prominent global institutional investors, and strategic investment from B2Gold Corp, a leading, multi-million-ounce a year gold producer.
Additionally, AuMEGA holds a 27-kilometer stretch of the highly prospective Hermitage Flexure and has also secured an Option Agreement for the Blue Cove Copper Project in southeastern Newfoundland, which exhibits strong potential for copper and other base metals.
AuMEGA's Cape Ray Shear Zone hosts several dozen high potential targets along with its existing defined gold Mineral Resource of 6.1 million tonnes of ore grading an average of 2.25 g/t, totaling 450,000 ounces of Indicated Resources, and 3.4 million tonnes of ore grading an average of 1.44 g/t, totaling 160,000 ounces in Inferred Resources[1].
AuMEGA acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, Provincial Government of Newfoundland and Labrador, Canada.
Reference to Previous ASX Announcements
In relation to this news release, all data used to assess targets have been previously disclosed by the Company and referenced in previous JORC Table 1 releases. Please see announcements dated: Mineral Resource estimate announced on 30 May 2023, Bunker Hill ASX announcements dated 22 April 2022, 23 April 2024, 24 September 2024, 28 May 2024 & 15 October 2024, Malachite ASX announcements dated 20 April 2022, 8 June 2022, 25 January 2023 & 11 October 2023 and Targeting Workshop ASX announcement 3 July 2024.
In relation to the Mineral Resource estimate announced on 30 May 2023, the Company confirms that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
Forward-Looking Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," or "believes," or variations of such words and phrases or may contain statements that certain actions, events or results "may," "could," "would," "might" or "will be taken," "will continue," "will occur" or "will be achieved". Forward-looking information may relate to anticipated events or results including, but not limited to: receipt of all regulatory approvals, including the final approval of the TSXV, the anticipated use of proceeds from the Offering and the Company's planned drilling program.
By identifying such information in this manner, AuMEGA is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information, and no assurance or guarantee can be given that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: delays in obtaining required approvals from regulators, changes in general economic, business and political conditions, including changes in the financial markets; delays in obtaining required licenses or approvals; and delays or unforeseen costs incurred in connection with drilling. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
The forward-looking information contained in this press release is made as of the date of this press release, and the Company does not undertake to update any forward looking information that are contained or referenced herein, except in accordance with applicable securities laws.
[1] Refer to ASX announcement dated 30 May 2023.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233191
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