2022-02-10 16:26 ET - News Release
Mr. Adrian Hobkirk reports
AUSTRALIAN GOLDFIELDS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Australian Goldfields Ltd. intends to complete a private placement of up to 43 million units, at a price of 10 cents per unit, for gross proceeds of up to $4.3-million.
Each unit will comprise one common share and one transferable common share purchase warrant with each warrant entitling the holder to purchase one additional share of the company at a price of 18 cents per share for a period of three years from the date of issuance. Finder's fees may be payable to qualified parties in accordance with applicable securities laws. The company intends to use the proceeds from the private placement for further development of the company's properties and general working capital.