St. Augustine Closes Private Placement
Rhea-AI Summary
St. Augustine Gold and Copper (TSX: SAU) has successfully closed its previously announced non-brokered private placement. The company issued 341,038,196 common shares at $0.073 per share, raising total gross proceeds of $24.9 million.
The funds will be utilized for general corporate purposes, with a focus on completing a feasibility study and arranging financing for the company's King-king copper-gold project. No company insiders participated in this private placement.
Positive
- Raised significant capital of $24.9 million through private placement
- Funds secured for feasibility study completion and project financing
- No insider participation indicates external investor interest
Negative
- Significant share dilution with 341 million new shares issued
News Market Reaction – RTLGF
On the day this news was published, RTLGF gained 10.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Singapore, Singapore--(Newsfile Corp. - July 25, 2025) - St. Augustine Gold and Copper Limited (TSX: SAU) ("St. Augustine" or the "Company") is pleased to announce that its previously announced (June 9, 2025) non-brokered private placement financing of 341,038,196 common shares of the Company (the "Shares") has closed 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 participated.
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 not 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.
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Lenna Mae Leopoldo | ST. AUGUSTINE CORPORATE HEADQUARTERS No.21, Greenwood Lane, E: Singapore, 286949 |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260009