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Aurion Announces Additional Investment by Kinross Gold Corporation to Maintain 9.98% Ownership Position
Aurion Announces Additional Investment by Kinross Gold Corporation to Maintain 9.98% Owner...
About this update from Aurion Resources Ltd.
[{"type":"text","content":"\n\n\n\nAurion Announces Additional Investment by Kinross Gold Corporation to Maintain 9.98% Ownership Position\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nST. JOHN'S, April 1st, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FORDISSEMINATION IN THE UNITED STATES/\nTSX-V: AU\n \nST. JOHN'S, April 1st, 2019 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (\"Aurion\" or the \"Company\") is pleased to announce a non-brokered private placement of common shares by Kinross Gold Corporation (\"Kinross\").  Kinross has agreed to exercise its pro rata right to purchase up to an additional 690,000 common shares (\"Common Shares\") at a the price of C$1.05 per Common Share for gross proceeds of up to $724,500 (the \"Kinross Private Placement\"), such that on closing of both of the previously announced \"bought deal\" private placement and the Kinross Private Placement, Kinross will hold 9.98% of the issued and outstanding common chares of the Company.\nBy news release dated March 18, 2019, the Company announced a \"bought deal\" private placement of 4,762,000 Common Shares at a price of C$1.05 per Common Share led by Haywood Securities Inc. (\"Haywood\") on behalf of a syndicate of underwriters (collectively with Haywood, the \"Underwriters\") for gross proceeds of $5,000,100 (the \"Offering\").  The Company also granted the Underwriters an option, exercisable at any time up to 48 hours prior to the closing of the Offering, in whole or in part by Haywood on behalf of the Underwriters, to purchase up to an additional 15% of the number of Common Shares issuable under the Offering on the same terms and conditions.  \nKinross initially purchased 6,853,500 common shares of the Company by way of private placement in September 2017, thus acquiring 9.98% of the then issued and outstanding common shares of the Company.  Kinross has the right to maintain its pro rata interest in the Company for so long as it owns at least 5% of the issued and outstanding common shares of the Company from time t...