Aeonian Resources arranges $2-million private placement

Executive Summary

• Aeonian Resources Corp. announced an intended non-brokered private placement financing of up to $2 million in gross proceeds, subject to TSX Venture Exchange approval.
• The offering consists of two tranches: up to 30 million flow-through (FT) units at $0.05 per unit and up to 12.5 million non-flow-through (NFT) units at $0.04 per unit.
• Proceeds will be allocated to Canadian exploration expenses for the Koocanusa property in British Columbia (FT units) and general working capital (NFT units).

Key Details

• Total Gross Proceeds: Up to $2,000,000.
• Flow-Through (FT) Units:
  • Quantity: Up to 30,000,000 units.
  • Price: $0.05 per unit.
  • Structure: Each FT unit consists of one common share and one-half (0.5) of a common share purchase warrant.
  • Warrant Terms: Exercise price of $0.07 per share, exercisable for 24 months from issuance.
  • Use of Proceeds: To incur Canadian exploration expenses qualifying as flow-through mining expenditures under the Income Tax Act (Canada), intended to be renounced to purchasers.
• Non-Flow-Through (NFT) Units:
  • Quantity: Up to 12,500,000 units.
  • Price: $0.04 per unit.
  • Structure: Each NFT unit consists of one common share and one common share purchase warrant.
  • Warrant Terms: Exercise price of $0.07 per share, exercisable for 24 months from issuance.
  • Use of Proceeds: General working capital.
• Regulatory and Legal Conditions:
  • Subject to TSX Venture Exchange approval and customary conditions, including regulatory approvals.
  • All securities issued are subject to a statutory hold period of four months and one day from the closing date.
  • Finders' fees may be paid in connection with the offering.

Notable Quotes

• None provided in the text.