Aurion Resources (TSX-V:AU) Ltd has completed its previously announced fully marketed private placement as well as its non-brokered private placement, the company announced.
Altogether, the company issued more than 12.1 million common shares for gross proceeds of about $6.7 million.
Under the brokered offering, the company issued an aggregate of 10.9 million shares at a price of C$0.55 per share for aggregate gross proceeds of approximately C$6 million, which includes the full exercise of the agent's option.
A director of the company subscribed for 91,000 shares under the brokered offering, the company noted.
Under the non-brokered offering, Aurion issued an aggregate of over 1.2 million common shares at a price of C$0.55 per share for aggregate gross proceeds of C$683,452. The offering was fully subscribed by Kinross Gold Corporation (TSX:K).
Kinross exercised its pro rata right granted pursuant to a prior financing to maintain its previous approximately 9.98% interest in the issued and outstanding shares of the company.
Aurion plans to use the net proceeds of the offering for the exploration and advancement of the company's projects in Finland, which include its Risti, Launi and other projects on its 100%-owned land and its joint venture properties with B2Gold Corp and Kinross, as well as for general working capital purposes.
Aurion's strategy is to generate or acquire early-stage precious metals exploration opportunities and advance them through direct exploration by its experienced team or by business partnerships and joint venture arrangements.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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