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Aurion Announces that Kinross Agrees to Purchase Additional Shares to Maintain its Ownership Position
Aurion Announces that Kinross Agrees to Purchase Additional Shares to Maintain its Ownership Posi...
About this update from Aurion Resources Ltd.
[{"type":"text","content":"\n \n \n \n Aurion Announces that Kinross Agrees to Purchase Additional Shares to Maintain its Ownership Position\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n \n ST. JOHN'S\n \n , NL\n \n ,\n \n \n July 24, 2024\n \n \n /CNW/ -\n \n Aurion Resources Ltd.\n \n (TSX VENTURE: AU) (OTCQX: AIRRF)\n \n (\"Aurion\"\n \n or the\n \n \"Company\")\n \n announces a non-brokered private placement of common shares (the \"\n \n Kinross Private Placement\n \n \") to Kinross Gold Corporation (\"\n \n \n Kinross\n \n \n \") which, on closing, will enable\n \n Kinross\n \n to maintain its previous ownership position of approximately 9.98% of the issued and outstanding common shares of the Company.\n \n \n By news release dated\n \n July 16, 2024\n \n , the Company announced an upsized brokered private placement of up to 11,818,182 common shares at a price of\n \n C$0.55\n \n per common share (the \"\n \n Brokered Offering\"\n \n ) through a syndicate of agents led by Red Cloud Securities Inc. (collectively, the \"\n \n Agents\n \n \"). The Company has also granted the Agents an option (the \"\n \n Agents' Option\n \n \"), exercisable at any time up to 48 hours prior to the closing of the Brokered Offering, to sell up to an additional 2,727,273 common shares issuable under the Brokered Offering on the same terms and conditions.\n \n \n \n Kinross\n \n initially purchased 6,853,500 common shares of the Company by way of private placement in\n \n September 2017\n \n , thus acquiring 9.98% of the then issued and outstanding common shares of the Company.\n \n Kinross\n \n 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 to time. The Kinross Private Placement is expected to comprise the sale of a minimum of 1,582,153 common shares and a maximum of 1,884,510 common shares at a price of\n \n C$0.55\n \n per common share, with the final amount to be determined by the extent to which the Brokered Offering...