Business
Aurion Announces Overnight Marketed Private Placement of up to C$7 MM of Common Shares Led by a C$5 Million Investment from Eric Sprott
Aurion Announces Overnight Marketed Private Placement of up to C$7 MM of Common Shares Led...
About this update from Aurion Resources Ltd.
[{"type":"text","content":"\n\n\n\nAurion Announces Overnight Marketed Private Placement of up to C$7 MM of Common Shares Led by a C$5 Million Investment from Eric Sprott\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, July 9, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n ST. JOHN'S, July 9, 2019 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (\"Aurion\" or the \"Company\") is pleased to announce that it has entered into an agreement with a syndicate of agents led by Cormark Securities Inc. (collectively, the \"Agents\") pursuant to which the Agents will conduct an overnight marketed offering of common Shares (the \"Securities\") from the treasury of the Company on a private placement basis, at a price of $1.50 per Security (the \"Offering\").\nThe Company is pleased to announce that Eric Sprott has agreed to purchase $5 Million of the Offering. On completion of the Offering, Eric Sprott will own ~5.2% of Aurion on a basic shares outstanding basis.\nThe Company has granted the Agents an option (the \"Agents' Option\") to purchase up to an additional 15% of the Securities of the Offering on the same terms exercisable at any time up to 2 business days prior to the closing of the Offering.\nClosing of the Offering is expected to occur on or about July 31, 2019 and is subject to regulatory approval, including that of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory four-month hold period.\nThe net proceeds received by the Company from the Offering will be used for exploration of Aurion's properties in Finland and for working capital and general corporate purposes.\nIn consideration for their services, the Agents will receive a cash commission equal to 6.0% of the gross proceeds of the Offering and broker warrants to purchase a number of common shares equal to 6.0% of the number of Common Shares issued under the Offering at a price per common share equal to the issue price for a period of 24 months from the closi...