Issue of Shares

RNS Number : 4778L

Aura Energy Limited

06 September 2019

 

AURA ENERGY LIMITED

("Aura" or the "Company")

Issue of Shares

Aura wishes to inform the market that on 4 September 2019 its board of directors approved the following share issues:

SD Capital Advisory Limited/GKB Ventures Limited for provision of

  financing advisory services                                                                                   16,326,996

Total number of ordinary shares on issue                                                         1,263,405,674

Ordinary shares held in Treasury                                                                                         Nil

Expected Admission date                                                                         13 September 2019

Background

Conversion of convertible notes

On 30 April 2019, the Company executed a Convertible Security Financing Agreement and a Security Deed with Lind Global Macro Fund LP for A$2,000,000.  Following the expiry of 60 days from the date of execution, Lind was entitled to convert convertible notes into ordinary shares in the Company.  Under the Agreement, Lind is entitled to convert its convertible notes into ordinary shares at 90% of the average of 5 daily VWAPs chosen by Lind from the daily VWAPs for the 20 Trading Days immediately prior to the Conversion Notice Date.

Lind has submitted to the Company a Conversion Notice to convert A$100,000 (the maximum monthly convertible amount) of convertible notes into ordinary shares at 0.7 cents per ordinary share.  This Conversion Notice has resulted in A$200,000 of the Convertible Security having been converted into fully paid ordinary shares.

SD Capital Advisory/GKB Ventures Limited Engagement Letter

On 25 January 2019, the Company executed a Letter of Engagement with SD Capital Advisory Limited and GKB Ventures Limited (collectively "S&G") as joint finance advisors to arrange funding for both the Tiris uranium project in Mauritania and the Häggån vanadium project in Sweden.  The issue of shares referred to above represents a retainer payable for August 2019.  The 20-day VWAP price immediately preceding the 25 August 2019 for the issue of shares to S&G was 0.963 Australian cents per share.

Total shares on issue

The total number of ordinary shares on issue following the issue and Admission of the above Placement Shares will be 1,263,405,674 ordinary shares.  There are no shares held in treasury and, therefore this figure may be used by shareholders, from the appropriate time, as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For more information please visit www.auraenergy.com.au or contact the following:

Aura Energy Limited Peter Reeve (Executive Chairman) WH Ireland Limited (Nominated Adviser and Joint Broker) Adrian Hadden James Sinclair-Ford SP Angel Corporate Finance LLP (Joint Broker) Ewan Leggat Jamie Spotswood Yellow Jersey PR Limited Felicity Winkles Joe Burgess

Telephone: [phone] [e-mail] Telephone: [phone] Telephone: [phone] Telephone: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

 

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