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Angold Resources Ltd ( (TSE:AERO) ) has shared an announcement.
Aero Energy Limited, together with Urano Energy Corp. and Pegasus Resources Inc., has closed a non-brokered private placement of 26,249,999 subscription receipts at $0.40 each, raising gross proceeds of $10.5 million. The financing supports a planned three-way combination into Manhattan Uranium Discovery Corp., expected to trade under the symbol MANU.
Each subscription receipt will convert into a unit of Aero consisting of one common share and a warrant exercisable at $0.60 until March 31, 2028, once escrow conditions are met, with related finder’s fees also held in escrow. Net proceeds are earmarked for advancing the combined uranium project portfolio in North America, repaying a secured bridge loan to Urano, funding transaction costs and providing working capital, while investors face a refund mechanism if closing conditions for the merger are not satisfied by the deadline.
More about Angold Resources Ltd
Aero Energy Limited is a Vancouver-based uranium exploration and development company focused on advancing a portfolio of uranium projects in North America. The firm operates in the resource sector, targeting growing demand for nuclear fuel and positioning itself within the broader uranium market through asset consolidation and project expansion.
Average Trading Volume: 81,609
Technical Sentiment Signal: Sell
Current Market Cap: C$14.1M
Learn more about AERO stock on TipRanks’ Stock Analysis page.