Auranova Announces Private Placement of Units and Flow-Through Shares
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2026) - Auranova Resources Inc. (TSXV: AURA) ("Auranova" or the "Company") is pleased to announce a non-brokered private placement of up to 3,333,333 common shares in the capital of the Company issued on a flow-through basis (each, a "FT Share") at a price of $0.30 per FT Share and up to 12,000,000 units (each, a "Unit") of the Company issued on a hard-dollar basis at a price of $0.25 per Unit, for aggregate gross proceeds of up to $4,000,000 (the "Offering").
Each Unit shall be comprised of one common share in the capital of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant") of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.50 per Common Share for a period of one (1) year from the closing of the Offering.
The Company may pay certain eligible persons a cash commission equal to 6% of the gross proceeds of the Offering.
All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The net proceeds from the sale of the Units will be used for general working capital purposes and the gross proceeds from the Offering will be used by the Company to incur eligible "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act (Canada), that qualify as "flow-through mining expenditures" as defined in subsection 127(9) of the Income Tax Act (Canada) and as "eligible Ontario exploration expenditures" within the meaning of the Taxation Act (Ontario) ("Qualifying Expenses"). The Qualifying Expenses will be renounced in favour of the subscribers with an effective date no later than December 31, 2026.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Auranova Resources
Auranova Resources Inc. (TSXV: AURA) is an explorer of precious metal projects in the highly prospective Red Lake region of Ontario. The Company is focused on the discovery of new gold systems in the Birch Uchi Belt in partnership with Kenorland Minerals Ltd., as well as expanding its presence in the greenstone belts of Ontario.
Further information can be found on the Company's website www.auranovaresources.com.
On behalf of the Board of Directors of Auranova Resources Inc.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Mineralisation on adjacent or nearby properties is not necessarily indicative of mineralisation on the Company's property. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315737
Source: Auranova Resources Inc.
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