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Aguila American Resources Announces Closing of $5,379,750 Financing Via Short Form Offering Document and Private Placements
Published : May 19, 2011
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Keywords :   Canada | Gold | Market | Peru |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2011) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Aguila American Resources Ltd. ("Aguila" or the "Company") (News - Market indicators) is pleased to announce that it has closed its financings previously announced on April 19, 2011 by way of TSX Venture Exchange short form offering document (the "SFOD Offering"), brokered private placement (the "Brokered Private Placement") with Canaccord Genuity Corp. ("Canaccord Genuity" or the "Agent") and non-brokered private placement. The Brokered Private Placement was over-subscribed and Canaccord exercised its over-allotment option in full. The Company raised aggregate gross proceeds of $5,379,750 under the financings.

Pursuant to the SFOD Offering, the Company issued an aggregate of 4,440,000 units (the "Units") at a price of $0.45 per Unit for gross proceeds of $1,998,000. Each Unit consisted of one common share of the Company and one-half of one transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to subscribe for one additional common share at a price of $0.65 until May 19, 2013.

Pursuant to the Brokered Private Placement, and upon exercise of the over-allotment option granted to Canaccord, the Company issued an aggregate of 3,840,000 Units having the same terms as the SFOD Offering for gross proceeds of $1,728,000.

On closing of the SFOD Offering and Brokered Private Placement, the Company paid to the Agent a cash fee equal to 8% of the gross proceeds raised through the SFOD Offering and the Brokered Private Placement and issued to the Agent warrants (the "Agent's Warrants") equal to 8% of the Units issued pursuant to the SFOD Offering and the Brokered Private Placement. Each Agent's Warrant is exercisable into one common share at a price of $0.65 per common share until May 19, 2013. The Company also paid to the Agent a corporate finance fee of 125,000 Units (the "Corporate Finance Units"). Each Corporate Finance Unit has the same terms as the Units sold under the SFOD Offering and the Brokered Private Placement.

All securities issued in connection with the Brokered Private Placement, 41,200 Units issued pursuant to the SFOD Offering and all securities issued to the Agent are subject to a hold period in Canada expiring on September 20, 2011.

The Company has also completed a non-brokered private placement (the "Non-Brokered Private Placement"), which was over-subscribed, and raised gross proceeds of $1,653,750 by the issuance of up to 3,675,000 Units having the same terms as the Units issued under the SFOD Offering and Brokered Private Placement. The Company paid a finder's fee to arm's length parties equal to 8% of the gross proceeds raised through the Non-Brokered Private Placement and issued to the finders warrants (the "Finder's Warrants") equal to 8% of the Units issued pursuant to the Non-Brokered Private Placement. Each Finder's Warrant is exercisable into one common share at a price of $0.65 per common share until May 19, 2013. All securities issued in connection with the Non-Brokered Private Placement are subject to a hold period in Canada expiring on September 20, 2011.

The funds raised from the issuance of the Units will be used to fund on-going work programs on the Company's properties and for general working capital purposes.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

On behalf of the Board of Directors,

John Huguet, President & CEO

Aguila American Resources Ltd.

About Aguila

Aguila American Resources Ltd. is a publicly traded, natural resource development company involved in the exploration and development of mineral properties. Exploration plans are set to focus on the Angostura Gold Prospect in Southern Peru. This prospective gold exploration property is located approximately 430 kilometres southeast of Lima and 180 kilometres southwest of the city of Cuzco in the Department of Apurimac. Angostura covers approximately 3,800 hectares and is comprised of eight exploration concessions.

About Prime

Prime was founded in Vancouver, British Columbia Canada and specializes in serving micro to small cap companies that are publicly traded on the Toronto Venture Stock Exchange. Prime Communications specializes in elevating market awareness of our clients and their offerings within the global investment community. In doing so, Prime Communications Inc. endeavors to develop, sustain and heighten new market awareness and shareholder value through a strategic mix of brand marketing, corporate communications and investor relations services.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Prime Communications Inc.
John-David A. Belfontaine
Founder and President
(604) 909-2303 or Toll free: (866) 296-2195
info@primecom.ca
or
Aguila American Resources
(604) 685-9316
(604) 683-1585 (FAX)
www.aguilaamerican.ca
Data and Statistics for these countries : Canada | Peru | All
Gold and Silver Prices for these countries : Canada | Peru | All

Aguila American Resources Ltd.

EXPLORATION STAGE
CODE : AGL.V
ISIN : CA0086312026
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Aguila American Res. is an exploration silver and gold company based in Canada.

Its main exploration property is ANGOSTURA PERU in Peru.

Aguila American Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 10.1 millions as of today (US$ 7.9 millions, € 6.5 millions).

Its stock quote reached its highest recent level on March 11, 2011 at CA$ 2.80, and its lowest recent point on May 15, 2017 at CA$ 0.03.

Aguila American Res. has 20 599 749 shares outstanding.

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Financings of Aguila American Resources Ltd.
5/19/2011Announces Closing of $5,379,750 Financing Via Short Form Off...
Nominations of Aguila American Resources Ltd.
9/19/2012Appoints Additional Director
Project news of Aguila American Resources Ltd.
2/18/2011(Angostura Peru)Aguila samples 16 g/t at 3 million ounce Gold target in Peru
2/18/2011(Angostura Peru)Completes Work Program on Peru Gold Project
11/30/2006(Angostura Peru)2006 Technical report
Corporate news of Aguila American Resources Ltd.
7/6/2016Aguila American Gold closes non-brokered Private Placement
6/16/2016Aguila American Gold Amends Non-Brokered Private Placement
6/13/2016Aguila American Gold Announces Non-Brokered Private Placemen...
5/3/2016Aguila American Gold Frankfurt Listing
4/27/2016Aguila American Gold Grants Stock Options
3/31/2016Aguila American Gold Announces Closing Of Non-Brokered Priva...
3/31/2016Aguila American Gold Provides Update On Angostura Property, ...
11/2/2015Aguila American Announces Approval of Environmental Impact A...
8/18/2014Aguila Provides Corporate Update
4/24/2013Gold Limited: Angostura Gold Project Drill Program Results
11/8/2012Announces Former Ventana Gold Executive as CEO
10/25/2012Gold Limited: Drilling Commences at Angostura Gold Project
3/5/2012(AGL:TSX-V) Signs Community Agreement and acquires Drill Per...
8/31/2011Gold Ltd. Featured in Gold Report Newsletter
7/22/2011 Growing Global Confidence in the Evolving Poli-Economic Cli...
5/9/2011Signs Community Agreement Proceeds with Drill Permitting
3/3/2011Negotiates More Favourable Terms for Angostura Gold Project
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