St. Augustine Announces Private Placement
- Significant capital raise of $24.9 million to strengthen company's financial position
- Funds will support completion of feasibility study for King-king copper-gold project
- Strategic financing arrangement with two-tranche structure provides funding flexibility
- Substantial share dilution with issuance of 341 million new shares
- No insider participation could signal lack of internal confidence
- Share price of $0.073 indicates relatively low valuation
Singapore, Singapore--(Newsfile Corp. - June 10, 2025) - St. Augustine Gold and Copper Limited (TSX: SAU) ("St. Augustine" or the "Company") is pleased to announce a non-brokered private placement financing of up to 341,038,196 common shares of the Company (the "Shares") at a price of
The Company intends to use net proceeds of the Private Placement for general corporate purposes including completion of a feasibility study and organizing financing for the Company's King-king copper-gold project. No insiders are expected to participate.
Closing of the placement is expected to occur in two tranches, with the first tranche closing on or about June 20, 2025, and the same is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.
About St. Augustine
St. Augustine (SAU.T) is a TSX-listed mining company focused on the development of the King-king Copper-Gold Project. The Project is one of the largest undeveloped copper-gold deposits in the world and is listed as a top three-priority mining project by the Philippine government.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact included herein are forward looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. While we consider these assumptions to be reasonable based on currently available information, they may prove to be incorrect. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is also subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from the Company's current expectations, including changes in market conditions, governmental or regulatory developments and general economic conditions. Other risks and uncertainties related to the Company are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 and filed with Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.ca. Forward-looking information contained in this announcement is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should nor rely on this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as required by applicable securities law.
For more information:
Lenna Mae Leopoldo
Investor and Public Relations Contact
T: +6382 225 0884
E: lleopoldo@kingkingproject.com
ST. AUGUSTINE CORPORATE
HEADQUARTERS
No.21, Greenwood Lane,
Singapore, 286949
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255036
FAQ
How much money is St. Augustine Gold and Copper (TSX: SAU) raising in its private placement?
What will St. Augustine use the private placement proceeds for?
When is the expected closing date for St. Augustine's private placement?
Are any insiders participating in St. Augustine's private placement?
What is the price per share for St. Augustine's private placement?
