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Astorius Closes $518,250 Private Placement Financing
Astorius Resources Ltd. ("Astorius") is pleased to announce that it has closed the private placement sales announced in its Release dated August 16, 2016. The sales are of 4,146,000 Units at a price of $0.125 per Unit – from which Astorius is receiving gross proceeds of $518,250. The News Release dated August 16, 2016 erroneously stated that the closing would be of the sale of 4,138,000 Units.
Each Unit will consist of one share of the Company and one share purchase warrant. A warrant will be exercisable for a 5 year term to purchase one additional share of the Company for $0.15; Provided that if the shares traded on the Exchange have a closing price of $0.50 per share or higher for 20 consecutive trading days, Astorius may give the Warrantholders a notice that:
- (i) the Warrantholders must exercise the Warrants they hold within 10 days of the giving of the notice; and
- (ii) the Warrants held by the Warrantholders which are not exercised within the said 10 days will be cancelled.
The shares issued as part of the Units – and any shares issued pursuant to the exercise of Warrants – will be subject to a non-trading hold period which will expire December 19, 2016.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.