Last checked at 15 Jan 2020 07:00
AURA ENERGY LIMITED
("Aura" or the "Company")
Placing and Subscription raises approximately AUD 475,000
Aura Energy Limited (AEE: ASX, AURA: AIM) is pleased to announce that it has raised an aggregate of approximately AUD475,000 (GBP252,600) (before expenses) via the issue of 105,416,664 ordinary shares of nil par value each in the capital of the Company (the "New Shares") through a placing and subscription at a price of AUD 0.45 cents (GBP 0.24 pence) per New Share (the "Placing Price") (the "Fundraising"). The Company is also issuing one share option for every two New Shares issued exercisable at a price of AUD 0.80 cents (GBP 0.42 pence) with a term of two years from the date of issue (the "Share Options".) The Share Options will not be listed on AIM and the grant of Share Options is subject to the approval of shareholders of the Company.
The Company will use the net proceeds of the Fundraising for working capital purposes.
Mr Peter Reeve, Aura's Executive Chairman said: "Aura has four distinct activities progressing steadily despite the tough conditions in the market. The Tiris DFS remains poised for execution, the Häggån Scoping Study is complete allowing corporate transactions, the gold assets are attracting good corporate interest and the compensation action in Sweden is progressing well. These all impute strong value within the company and these funds will allow progression of some of these areas to the next stage."
Details of the Fundraising
Application will be made for the New Shares issued pursuant to the Fundraising, which will rank pari passu with the existing ordinary shares of nil par value of the Company ("Ordinary Shares"), to be admitted to trading on AIM and the ASX ("Admission"). It is expected that Admission will become effective and dealings will commence on or around 20 January 2020.
Total Voting Rights
Following the issue of the New Shares, the issued share capital of the Company will consist of 1,529,357,222 Ordinary Shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 1,529,357,222.
The above total current voting rights number is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.
For more information please visit www.auraenergy.com.au or contact the following:
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The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.