On January 31, 2017, Augyva Mining Resources Inc. completed a brokered private placement (the “Private Placement”) of subscription receipts raising gross proceeds of $17,293,500. Upon satisfaction of certain escrow release conditions, each subscription receipt will be automatically converted into one common share of Augyva. The Private Placement was completed in connection with a contemplated change of business of Augyva from mining and mineral exploration to that of an investment issuer focused on providing debt financing in the auto retail sector.
Canaccord Genuity Corp. acted as Augyva’s sole agent and financial advisor for the Private Placement.
Cassels Brock acted as counsel to Canaccord Genuity with a team composed of Jay King and James Lyle (Securities), Jason Arbuck (Financial Services) and Jim Morand (Tax).