Aurania Resources Ltd. announced a non-brokered private placement financing of up to 20,000,000 units at a price of CAD 0.20 per unit for total gross proceeds of up to CAD 4,000,000 on April 17, 2024. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.45 per warrant share for a period of 24 months following the closing of the offering.

The transaction is subject to the approval of the TSX Venture Exchange, the company may pay finders? fees to certain eligible finders of up to 7% in cash of the gross proceeds raised in the offering from subscribers introduced to the company by such finders and up to 7% in finders warrants of the aggregate number of units placed by such finders. Each finder warrant will entitle the holder thereof to purchase one unit at the issue price and will be exercisable for a period of 24 months from the closing of the offering.

Each finder warrant will be comprised of one common share and one warrant. The company reserves the right to increase the size of the offering by up to 25%, such that up to an additional 5,000,000 units may be issued to raise additional gross proceeds of up to CAD 1,000,000. The closing of the offering is anticipated to be completed on or about May 8, 2024, or such other date or dates that the company may determine and may close in tranches.

The closing is subject to the receipt of all necessary regulatory approvals including (but not limited to) the receipt of approval from the TSXV of the listing of the common shares and the warrant shares issuable upon the exercise of the warrants. the warrants are not eligible to be listed, and therefore will not be tradeable. The securities issued pursuant to the offering shall be subject to a four-month plus one day hold period commencing on the day of the closing of the offering, as applicable, under applicable Canadian securities laws.

The offering are subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSXV.