LONDON (Alliance News) - Aureus Mining Inc Wednesday said it has closed its previously announced equity financing, raising USD12.7 million.
The proceeds were raised through the issue of 168.3 million new shares in the company at 5.0p per share and will be used to reduce outstanding creditor balances to "normal operating levels", allowing the company to acquire new equipment so it can accelerate mining at the New Liberty gold mine.
Every director of the company took up shares in the financing, but all retain tiny stakes in the company.
Chief Executive David Reading bought 662,471 shares to take his holding to 1.1 million shares, representing a 0.2% stake.
Non-Executive Chairman David Netherway purchased 99,172 shares to increase his holding to 431,454 shares, equating to a 0.08% stake.
Non-Executive Karin Ireton acquired 80,000 shares, pushing her holding to 167,000 shares, or a 0.03% stake. Other Non-Executive Jean-Guy Martin bought 99,832 shares to push his holding up to 99,832 shares, representing a 0.02% stake.
Other Non-Executives Loudon Owen and Adrian Reynolds purchased 49,593 shares and 66,247 shares respectively. Owen now holds 99,593 shares, or a 0.02% stake whilst Reynolds holds 76,247 shares which equates to a 0.01% stake.
Aureus shares were up 2.9% to 4.50 pence per share on Wednesday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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