Business
Aurion Resources Completes Brokered Financing and Concurrent Non-Brokered Pro Rata Participation by Kinross Gold Corporation for C$6,474,615
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ST. JOHN’S, Newfoundland, April 10, 2019 (GLOBE NEWSWIRE) -- A
About this update from Aurion Resources Ltd.
[{"type":"text","content":" NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ST. JOHN’S, Newfoundland, April 10, 2019 (GLOBE NEWSWIRE) -- Aurion Resources Ltd. (TSXV:AU) (“Aurion” or the \"Company\") is pleased to announce that it has completed its previously announced bought deal private placement (the “Brokered Financing”), including the exercise in full of the underwriter’s option, and its non-brokered private placement (the “Non-Brokered Financing”, and together with the Brokered Offering, the “Financings”) of an aggregate of 6,166,300 common shares (the “Common Shares”) of the Company at a price of C$1.05 per Common Share (the “Issue Price”), for aggregate gross proceeds of C$6,474,615. Bought Deal Private Placement Under the Brokered Financing, the Company issued an aggregate of 5,476,300 Common Shares (including 714,300 Common Shares issued upon the exercise in full by the Underwriters (as defined herein) of the over-allotment option) at a price of C$1.05 per Common Share for aggregate gross proceeds of C$5,750,115. The Brokered Financing was led by Haywood Securities Inc. on behalf of a syndicate of underwriters including Canaccord Genuity Corp., Medalist Capital Ltd., Sprott Capital Partners LP, and PI Financial Corp. (collectively, the “Underwriters”). In consideration for their services, the Underwriters received a cash commission equal to 6.0% of the gross proceeds of the Brokered Financing and broker warrants to purchase such number of common shares equal to 6.0% of the number of Common Shares issued under the Brokered Financing at a price per common share equal to the Issue Price for a period of 24 months from the closing of the Brokered Financing. Non-Brokered Private Placement Under the Non-Brokered Financing, the Company issued an aggregate of 690,000 Common Shares at a price of C$1.05 per Common Share for aggregate gross proceeds of C$724,500. The Non-Brokered Financing was fully subscribed for by Kinross Gold Corporation (“Kinross”). Kinross exercised its pro rata right granted pursuant to a prior financing to maintain a 9.98% interest in the issued and outstanding shares of the Company. The net proceeds received by the Company from the Financings will be used for exploration activities on Aurion’s 100%-owned properties in Finland, including drilling at the Company’s Risti Property,...