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Aurion Announces that Kinross Gold Corporation Agrees to Purchase Additional Shares to Maintain 9.98% Ownership Position
Aurion Announces that Kinross Gold Corporation Agrees to Purchase Additional Shares to Ma...
About this update from Aurion Resources Ltd.
[{"type":"text","content":"\n \n \n \n Aurion Announces that Kinross Gold Corporation Agrees to Purchase Additional Shares to Maintain 9.98% 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n ST. JOHN'S, NL\n \n ,\n \n Nov. 19, 2021\n \n /CNW/ -\n \n Aurion Resources Ltd.\n \n (TSXV: AU) (OTCQX: AIRRF)\n \n (\"Aurion\"\n \n or the\n \n \"Company\")\n \n is pleased to announce a non-brokered private placement of common shares (the \"\n \n Kinross Private Placement\n \n \") by Kinross Gold Corporation (\"\n \n \n Kinross\n \n \n \") which, on closing, will enable\n \n Kinross\n \n to maintain its ownership position of 9.98% of the issued and outstanding common shares of the Company.\n \n \n \n \n \n \n \n \n \n By news releases dated\n \n November 4, 2021\n \n and\n \n November 5, 2021\n \n , the Company announced a brokered private placement of 15,000,000 Common Shares at a price of\n \n C$0.90\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 \").\n \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 purchase up to an additional 1,666,667 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 1,669,769 common shares...