Augmitto Explorations has settled a form of agreement with Laurence Prust and Co. for a private placement to be effected with up to 12 institutional investors in England.
The agreement calls for the issuance of three million common shares and three million warrants at 95 cents per unit.
Each warrant entitles its holder to subscribe for one additional common share at $1.35 per share for a period of one year from the date of the closing of the transaction.
The agreement is subject to approval by the board of directors of Augmitto, the execution of final documentaion and sale of the units by Laurence Prust and the approval of the TSE and the ME.
No placee will subscribe for more than 600,000 units of the private placement, says the company.
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