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Aurion Gives Notice of Exercise of Option to Repurchase Royalties on Major Properties
Aurion Gives Notice of Exercise of Option to Repurchase Royalties on Major Properties C...
About this update from Aurion Resources Ltd.
[{"type":"text","content":"\n \n \n \n Aurion Gives Notice of Exercise of Option to Repurchase Royalties on Major Properties\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, NL\n \n \n ,\n \n \n Aug. 16, 2023\n \n \n /CNW/ -\n \n Aurion Resources Ltd.\n \n (TSXV: AU) (OTCQX: AIRRF)\n \n (\"Aurion\" or the \"Company\")\n \n announces that, further to its news releases dated\n \n May 31, 2023\n \n ,\n \n July 10, 2023\n \n , and\n \n July 31, 2023\n \n , it has given Dragon Mining Ltd. (\"\n \n Dragon\n \n \") notice (the \"\n \n Notice\n \n \") of its intent to exercise the option to acquire and eliminate all encumbrances on the Kutuvuoma and Silasselkä properties (the \"\n \n Option\n \n \") for a total consideration of €5,000,000.\n \n \n \n Summary of the terms:\n \n \n \n The Notice stated that Aurion will, on the date that it exercises the Option (the \"\n \n Closing\n \n \"), pay Dragon €5,000,000, as follows:\n \n \n \n €4,000,000 in cash, of which B2Gold Corp. has agreed to contribute €3,500,000 (see press release dated\n \n July 31, 2023\n \n ); and\n \n \n €1,000,000 in Aurion common shares (\"\n \n Shares\n \n \"). A total of 2,415,410 Shares will be issued, based on the 10-day volume-weighted average price of\n \n CAD$0.61\n \n /Share and a EURCAD exchange rate of 1.4734. The Shares will be subject to a statutory hold period of four months from Closing.\n \n \n \n \n Upon exercising the Option,\n \n Aurion\n \n will acquire and eliminate all remaining encumbrances on the\n \n Kutuvuoma\n \n and\n \n Silasselkä\n \n properties, including a 3% Net Smelter Return (\n \n NSR\n \n ) Royalty on both properties.\n \n \n \n Aurion anticipates that Closing will occur on\n \n September 8, 2023\n \n , and will make an announcement following Closing.\n \n \n \n About Aurion Resources Ltd.\n \n \n \n Aurion is a well-funded, Canadian exploration company listed on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's strategy is to generat...