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Auryn Resources Discusses Upcoming Reorganization into Three Companies, Acquisition of Eastmain Resources, and Maximizing Shareholder Value with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - October 6, 2020) - The Stock Day Podcast welcomed Auryn R...
About this update from Fury Gold Mines Limited
[{"type":"text","content":"Auryn Resources Discusses Upcoming Reorganization into Three Companies, Acquisition of Eastmain Resources, and Maximizing Shareholder Value with The Stock Day PodcastPhoenix, Arizona--(Newsfile Corp. - October 6, 2020) - The Stock Day Podcast welcomed Auryn Resources (TSX: AUG) (NYSE American: AUG) (\"the Company\") after the completion of its successful shareholder vote in support of spinning out Auryn's Peruvian projects to shareholders, acquiring Eastmain Resources and renaming as Fury Gold Mines (\"Fury\"), a Canadian-focused gold exploration and development company. The vote also approved of a C$23M financing for Fury, which will fund the inaugural 50-thousand-meter drill program planned to commence in November at the newly acquired Eau Claire project in Quebec. Auryn's Executive Chairman and Director, Ivan Bebek, joined Stock Day host Everett Jolly. \"What we've just announced is that we are splitting Auryn into three companies, and we are taking over Eastmain,\" shared Bebek. Auryn entered into an agreement at the end of July to acquire Eastmain Resources in an all-share deal set to close on October 9, 2020. \"Auryn is going to change its name to Fury Gold Mines… [and] it's going to be led by a CEO of the name Mike Timmins,\" he added. Timmins formerly worked at Agnico Eagle as the VP of Corporate Development and has a similar vision for the growth of Fury, which Bebek says will begin trading as soon as next week. \"The other two entities will be Sombrero Resources and Tier One Metals,\" said Bebek, speaking of the two companies spinning out from Auryn and holding the Peruvian assets. \"For Sombrero Resources I'll be the CEO and for Tier One Metals I'll be the Chair,\" he added. \"Sombrero's focus will be on the big gold and copper district we have…A once in a lifetime chance we're describing to go find one of the world's largest copper discoveries in Southern Peru,\" said Bebek, before elaborating on the potential of the project. He then shared that Sombrero Resources should be able to secure drill permits in Q1, and investors can expect to see Sombrero trading at that time as well. Bebek then expanded on Tier One Metals, including the potential of multi-kilo silver discoveries. \"In the spirit of wanting more for shareholders, we've identified a couple of other assets that are silver and gold acquisitions ...