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Australis Capital (AUSA) (AUSCF) Raises $30 Million Selling Shares at $2.03 with $2.64 Warrants

1,391 views · Published 26 October 2018 · 8:01 · Indexed 17 October 2026

Channel: RICH TV SHOW · 2018 · News & Politics

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Australis Capital (AUSA) (AUSCF) Raises $30 Million Selling Shares at $2.03 with $2.64 Warrants - RICH TV LIVE - October 26, 2018 -  Australis Capital Inc. (“Australis” or the “Company”) (CSE: AUSA) is pleased to announce that the Company has closed its previously announced non-brokered private placement of units of the Company (the “Units”) for gross proceeds of $30,000,000 (the “Private Placement”). In order to accommodate oversubscriptions, the Company also intends to increase the size of the Private Placement by an additional $2,000,000 to be completed in a second tranche.

Pursuant to the Private Placement, Australis issued 14,778,325 Units at $2.03 per Unit. Each Unit consisted of one common share in the capital of the Company (the “Shares”) and one-half of a common share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one additional Share at a price of $2.64 on or before October 25, 2020. The Company may accelerate the expiry of the Warrants in the event that for any ten consecutive trading days the daily volume weighted average trading price of the Shares is greater than $3.43.

Canaccord Genuity Corp. acted as the Company’s exclusive financial advisor in connection with the Private Placement.

All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on February 26, 2019.

In connection with the Private Placement, the Company paid aggregate finder’s fees of approximately $558,200.

The net proceeds from the Offering will be used by the Company for investments that adhere to the Company’s Investment Policy as described in its Prospectus dated August 14, 2018.
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