Aurion Resources Ltd (CVE:AU) announced it had upsized its private placing, announced on Friday, to C$9 million, still priced at C$0.85 per common share.
The explorer has signed an agreement with Cormark Securities and a syndicate of agents for the proposed private placement.
READ: Aurion Resources inks agreement for proposed private placement offering to raise aggregate gross proceeds of no less than $5 million
The company granted the agents an option to buy up to a further 15% of the securities on the same terms exercisable at any time up to two business days prior to the closing.
Aurion said it plans to use the net proceeds from the offering for exploration and general corporate and working capital purposes.
The offering is scheduled to close on or about February 23, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.
Aurion Resources is a Canadian company focused on exploring its flagship Risti and Launi projects, as well as advancing joint venture arrangements with Kinross Gold Corp., B2 Gold Corp., and Strategic Resources Inc. in Finland.
Contact the author at giles @proactiveinvestors.com