Aguia Resources to Advance Colombia Gold Project Via Institutional Investment

MT Newswires Live09-09

Aguia Resources (ASX:AGR) said it will use the proceeds of an institutional investment by Precious Metals Capital Group to advance the Santa Barbara gold project in Colombia as well as for general working capital requirements, according to a Tuesday Australian bourse filing.

The investment is comprised of up to two tranches, and the initial investment will raise AU$1 million for AU$1.1 million worth of placement shares, and is expected to be received in the next week. The next tranche raising AU$2 million for placement shares worth an equivalent amount will only proceed by mutual consent of the investor and the firm.

Aguia agreed to issue 5,526,316 shares to the investor in relation to the first investment.

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