Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) completed the first tranche of its private placement financing, selling 3,768,132 units for gross proceeds of C$678,263.76, according to a company statement.

The first tranche represents part of a larger non-brokered private placement offering of up to 8,333,333 units priced at C$0.18 per unit, targeting total gross proceeds of approximately C$1.5 million. Each unit consists of one common share and one warrant exercisable at C$0.35 for 24 months following the closing.

The company plans to use proceeds primarily for exploration at its Thor's Valley epithermal gold project in Iceland and the Balangero nickel-cobalt tailings retreatment project in Italy, along with general working capital purposes.

In connection with the closing, Aurania paid aggregate finder's fees of C$3,792.60 in cash and issued 21,070 non-transferable compensation warrants to eligible finders. Each compensation warrant allows the purchase of one unit at C$0.18 for 24 months from issuance.

Dr. Keith Barron, the company's CEO and director, acquired 1,666,666 units under the offering. This acquisition constitutes a related party transaction under TSX Venture Exchange policies, though the company is exempt from minority shareholder approval and formal valuation requirements as the transaction's fair market value does not exceed 25 percent of the company's market capitalization.

The first tranche closing remains subject to regulatory approvals, including final approval from the TSX Venture Exchange. All securities issued carry a four-month plus one day hold period from the issuance date. The company expects to complete the remaining tranche of the offering around June 12, 2026, and has the right to increase the offering size by up to 25 percent.