South32 Exercises Top-Up Right to Maintain 19.9% Stake in American Eagle Gold
American Eagle Gold (AE:CA) has announced that South32 (SOUHY) has exercised its top-up right to maintain a 19.9% ownership stake in the company. This action was taken in accordance with an existing investor rights agreement between the two entities. The transaction involves the issuance of 50,000 common shares at a price of C$0.9253 per share, resulting in gross proceeds of approximately C$46,265. American Eagle Gold intends to utilize these funds for general corporate purposes and working capital requirements.
Tickers: $SOUHY
Topics: equity financing investor rights agreement share issuance top-up rights