Aguia Closes AU$9.5 Private Placement, Now Fully Funded for up to Two Years

Aguia Resources (ASX:AGR) announced that it has completed a private placement for AU$9.5 million through the placement of 55.88 million new fully paid ordinary shares to institutional and sophisticated investors at a price of $0.17 per share.
Highlights:

• New capital raised fully funds Aguia for up to two years
• Aguia welcomes well recognizes institutional investors to its register
• Significant value to be added through ongoing project development and exploration work
• Environmental permitting work at Tres Estradas to commence immediately
• Aggressive drilling at Joca Tavares and Cerro Presto to commence in September

Justin Reid, managing director of Aguia, commented:

Aguia is very encouraged by the support we have received for this placement. We have had strong participation from many of our existing shareholders and we are pleased to welcome some highly regarded institutional investors to the register. Their support validates our strategy and further reinforces the fact that Aguia’s assets have significant unlocked value.

Click here to read the full Aguia Resources (ASX:AGR) press release.