Fura Closes Second Tranche

Fura Gems has closed the second tranche of its previously announced non-brokered private placement of common shares. The Company issued 13,156,445 common shares pursuant to the Second Tranche at a price of $0.60 per share for aggregate gross proceeds of $7,893,867. The Company has raised aggregate proceeds of $12,393,868 pursuant to the Offering, including the $4,500,000 raised in the first tranche.

 

The proceeds of the Second Tranche are expected to be used to advance the Company’s assets in Colombia and Mozambique and for general corporate purposes. All Fura common shares issued pursuant to the Second Tranche will be subject to a regulatory hold period of four months and one day expiring on June 17, 2018.

 

As consideration for their services provided in connection with the Offering, the Company has paid finder’s fees of $37,707.48 in cash and issued 18,853 finder warrants. Each Finder Warrant shall entitle the holder to acquire one Fura common share at a price of $0.60 for a period of 24 months following the closing date of the Second Tranche.

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