Brazil-focused fertiliser developer Aguia Resources has raised C$10.8-million through a share placement to institutional and sophisticated investors to complete a bankable feasibility study on its Tres Estradas phosphate project.
The placement was priced at C$0.40 a unit, which consisted of one ordinary share and one-half of one ordinary share purchase warrant. Each warrant entitled the holder to purchase an additional share at a price of C$0.65 a share for a period of three years after their date of issue.
