Vancouver — Aurora Platinum (ARP-V) is in the process of raising up to $1.2 million though a financing that will consist of 334,246 units priced at $3.65 per each.
Each unit will consist of one common share and one common share purchase warrant. Each share purchase warrant will entitle the holder to buy one common share for $4.75 within 12 months after closing. Gross proceeds will be used by Aurora for ongoing exploration and development programs in Canada and general working capital.
A 10% finders’ fee will be charged on the gross proceeds of subscribers residing outside the United States. The finder’s fee goes to Quest Investment, a TSE-listed company, and is capped at $200,000.
Aurora Platinum is actively exploring for nickel-copper-platinum-palladium deposits in Ontario and Quebec. The company has a joint venture with Falconbridge (FL-T) on the Foy and Footwall properties near Sudbury. The junior also has a joint venture with Inco (N-T) on the AEM project in northern Ontario and the Nickel Lake property near Sudbury. Aurora is also exploring its 100%-owned properties in northwestern Ontario as well as the Midrim-Belleterre-Angliers project in Quebec.
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