Major share dilution! Guess they need the money to finally close the deal outstanding
) -- Fura Gems Inc. (“Fura” or the “Company”) (TSXV: FURA) (OTC: FUGMF) (FRA: BJ43), a new gemstone mining and marketing company with emerald and ruby assets in Colombia and Mozambique, respectively, intends to complete a private placement offering of up to 121,500,000 common shares of the Company at a price of CAD$0.25 per share for gross proceeds of up to CAD$30,375,000 (the “Offering”).
Dev Shetty, Fura’s President and Chief Executive Officer, commented: “The successful completion of this Offering would be a significant milestone for the Company as it would allow the Company to continue to build value for its shareholders by advancing its projects in Colombia and Mozambique. Given Fura’s track record of successfully raising capital, I’m confident that we’ll be able to complete the Offering in a timely fashion.”
The net proceeds of the Offering are expected to be used for (i) the advancement of its Coscuez emerald project in Colombia and ruby assets in Mozambique, and (ii) general corporate purposes.
The closing date of the Offering is expected to occur on or about June 28, 2019 and remains subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All Fura common shares issued pursuant to the Offering will be subject to a regulatory hold period of four months and one day.""
AI
