CPE News

Fura Gems announces $5.25M private placement

News Release

Fura Announces Private Placement


TORONTO, Nov. 26, 2018 — Fura Gems Inc. (“Fura” or the “Company”) (TSXV: FURA) (OTC: FUGMF (FRA: BJ43) intends to complete a private placement offering of up to 13,122,500 million common shares of the Company at a price of CAD$0.40 per share, a premium of 27% to the closing price of Fura’s common shares on the most recent trading day on the TSX Venture Exchange, for gross proceeds of up to CAD$5,249,000 million (the “Offering”).

The net proceeds of the Offering are expected be used by the Company for exploration and development of the Company’s emerald and ruby assets in Colombia and Mozambique, respectively, and for general corporate purposes. The closing date of the Offering is expected to occur on or about December 7, 2018 and remains subject to a number of conditions, including without limitation, the approval of the TSX Venture Exchange. All Fura common shares issued pursuant to the Offering will be subject to a regulatory hold period of four months and one day.

For more information about Fura Gems Inc., please contact:
Fura Gems Inc.
Dev Shetty – President & Chief Executive Officer
Tel: +971 (0) 4 240 8760
Brad Scharfe
Director – Investor Relations
Tel: 1+(778)386-1313

Public Relations
Tavistock (UK)
Jos Simson / Barney Hayward
Tel: +44-207-920-3150

About Fura Gems Inc.

Fura Gems Inc. is a gemstone mining and marketing company which is engaged in the mining, exploration and acquisition of gemstone licences. Fura’s headquarters are located in Toronto, Canada and its administrative headquarters are located in the Almas Tower, Dubai. Fura is listed on the TSX Venture Exchange under the ticker symbol “FURA”.

Fura is engaged in the exploration of resource properties in Colombia and owns a 76% interest the Coscuez emerald mine in Boyacá, Colombia Fura is involved in the exploration and mining of rubies in Mozambique through its 80% effective interest in the four ruby licenses (4392L, 3868L, 3869L and 6811L). Fura has also entered into merger of assets agreement with Mustang Resources Ltd., and Regius Resources Group Ltd. to acquire nine ruby licenses/concessions in Mozambique.