TORONTO, ON / ACCESSWIRE / August 5, 2015 / Augustine Ventures Inc. (CSE: WAW) ("Augustine" or the "Company") is pleased to announce a brokered private placement to raise up to $450,000 (the "Financing"). Augustine has engaged IBK Capital Corp. ("IBK Capital") for this financing on a best efforts basis.
The details of the proposed financing are as follows:
a)
Up to 2,000,000 flow through units priced at $0.05 per unit, each unit consisting of one common share of Augustine issued on a flow-through basis pursuant to the Income Tax Act (Canada) and half of a non-flow-through common share purchase warrant (a "Warrant").
b)
Up to 7,000,000 hard dollar units priced at $0.05 CDN ($0.045 US) per unit consisting of one common share and one full Warrant.
One full Warrant allows the holder to acquire a common share of Augustine for a period of three years at an exercise price of $0.075 CDN ($0.070 US) per share.
Insiders (Management and Directors) will subscribe for approximately 4,000,000 hard dollar units.
The proceeds from this financing will be used for exploration purposes at Augustine's Wawa Gold Project and for general working capital purposes.
In connection with the Financing, Augustine has agreed to pay IBK Capital a cash commission of 8% of the funds raised and broker warrants in the amount of 8% of the flow through and hard dollar units issued through the financing. Each broker warrant allows the holder to acquire one hard dollar unit of Augustine at a price of $0.050 per share for 48 months from the closing date.
All securities issued pursuant to the offerings will be subject to the statutory four month hold period from their closing date(s) and to any and all necessary corporate and regulatory approvals.
For additional information contact:
Augustine Ventures Inc. Robert (Bob) Dodds, President & CEO Tel: (416) 363 2528 Email: bdodds@augustineventures.com
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