Fura to raise CAD5.2million at Premium

By retailj November 28, 2018 13:24 Updated

Fura to raise CAD5.2million at Premium


Toronto, Ontario – Fura Gems Inc. (“Fura” or the “Company”) (TSXV: FURA) (OTC: FUGMF

(FRA: BJ43) intends to complete a private placement offering of up to 13,122,500 million common

shares of the Company at a price of CAD$0.40 per share, a premium of 27% to the closing price

of Fura’s common shares on the most recent trading day on the TSX Venture Exchange, for gross

proceeds of up to CAD$5,249,000 million (the “Offering”).

The net proceeds of the Offering are expected be used by the Company for exploration and

development of the Company’s emerald and ruby assets in Colombia and Mozambique,

respectively, and for general corporate purposes. The closing date of the Offering is expected to

occur on or about December 7, 2018 and remains subject to a number of conditions, including

without limitation, the approval of the TSX Venture Exchange. All Fura common shares issued

pursuant to the Offering will be subject to a regulatory hold period of four months and one day.

About Fura Gems Inc.


Fura Gems Inc. is a gemstone mining and marketing company which is engaged in the mining,

exploration and acquisition of gemstone licences. Fura’s headquarters are located in Toronto,

Canada and its administrative headquarters are located in the Almas Tower, Dubai. Fura is listed

on the TSX Venture Exchange under the ticker symbol “FURA”.

Fura is engaged in the exploration of resource properties in Colombia and owns a 76% interest the

Coscuez emerald mine in Boyacá, Colombia Fura is involved in the exploration and mining of

rubies in Mozambique through its 80% effective interest in the four ruby licenses (4392L, 3868L,

3869L and 6811L). Fura has also entered into merger of assets agreement with Mustang Resources

Ltd., and Regius Resources Group Ltd. to acquire nine ruby licenses/concessions in Mozambique.

Courtesy: The Retail Jeweller News Service.

By retailj November 28, 2018 13:24 Updated
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