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Advance United Holdings ( (TSE:AUEX) ) has provided an update.
Advanced Gold Exploration has successfully closed a non-brokered private placement, raising $250,000 through the issuance of 5,000,000 units. The proceeds will be used for general corporate and working capital purposes. This transaction, involving insiders of the company, was conducted under financial difficulty exemptions and aims to improve the company’s financial position. The offering was approved by the board, with no special committee formed, and has implications for the company’s ownership structure, notably increasing Arndt Roehlig’s stake to 19.11% on an undiluted basis.
More about Advance United Holdings
Advanced Gold Exploration, formerly known as Advance United Holdings Inc., is a Canadian mineral exploration company specializing in the acquisition and enhancement of undervalued gold and copper properties. The company focuses on applying modern technology and systematic exploration to increase the value of these properties, with no intention of bringing them back into production or mining them itself.
Average Trading Volume: 26,834
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$599.9K
For a thorough assessment of AUEX stock, go to TipRanks’ Stock Analysis page.