Auxico closes $4.87-million private placement

Feb 4, 2021

2021-02-03 13:29 ET – News Release

Mr. Pierre Gauthier reports

AUXICO RESOURCES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF $4,872,000

Auxico Resources Canada Inc. has closed its non-brokered private placement, issuing a total of 9,744,000 units at a price of 50 cents per unit, raising gross proceeds of $4,872,000.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each full warrant is exercisable at $1 for a period of three years from the date of issuance.

The company paid finders’ fees of $276,100 in connection with the private placement.

All securities issued are subject to a statutory four-month hold period from the closing date.

The net proceeds of the private placement will be used to increase the trading of manganese ore from Brazil, as well as for general working capital.

About Auxico Resources Canada Inc.

Auxico Resources Canada is a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico and the Democratic Republic of the Congo.

https://www.auxicoresources.com/