RE:RE:Augusta Announces PP at 5 centssicilian2 wrote: i would assume or hope taht Allen has very good news or something substantial is following this announcement.especially when you are trying to raise another $1million and further dillution.
Sicilian2
SizzlinSteaks wrote: Augusta Announces Private Placement
08 Dec 2015 10:30 ET
Marketwire Canada
Augusta Industries Inc. (the "Corporation") (TSX VENTURE:AAO) is pleased to announce that it intends to raise gross proceeds of up to $1 million through a non-brokered private placement of up to 20 million units (the "Units") of the Corporation at a price of $0.05 per Unit. Each Unit will consist of one (1) common share and one half (1/2) a common share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to purchase one (1) common share for a period of three (3) years from date of issuance. Each whole warrant is exercisable at an exercise price of $0.10 per Warrant for the first 12 months and then is exercisable at an exercise price of $0.15 per Warrant for the remaining two (2) years.
The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Corporation intends to use the net proceeds for general working capital.
your absolutely right buddy, because in their last Q3 financial, they mentioned that they still had $286K of cash in hand, $401K of cash receivable, and that according to the company, they wouldn't be able to go thru June 2016 without a new financing. I would have taught that the next PP would have been in February or March, with the $685K in front of them, plus the two $600K contracts they have with the US navy, aviation and infantry.... Could it finaly be a contract for FOX-TEK... I think we're in business here....