ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Feb. 9, 2017) - Aurion Resources Ltd. (TSX VENTURE:AU) ("Aurion" or the "Company") is pleased to announce that as a result of positive investor response to its previously announced non-brokered private placement offering of 4,000,000 common shares ("Common Shares") of the Company at a price of $1.50 per Common Share (the "Issue Price"), the Company has decided to increase the size of the offering by an additional 1,784,000 Common Shares, at the Issue Price, for aggregate gross proceeds to the Company of $8,676,000 (the "Private Placement").
The net proceeds from the Private Placement will be used by the Company for exploration on its 100% owned property portfolio including the Risti Project located in Northern Finland, and for working capital and general corporate purposes.
The Private Placement is expected to close on or about February 23, 2017, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the acceptance by the TSX Venture Exchange.
In connection with the Private Placement, the Company has agreed to pay finder's fees equal to 6.0% of the gross proceeds of the Private Placement and issue compensation options equal to 6.0% of the number of Common Shares issued pursuant to the Private Placement, with an exercise price equal to the Issue Price for a period of 24 months from the date of closing of the Offering. All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Aurion Resource Ltd.
Aurion Resources Ltd. is a Canadian precious metals exploration company listed on the TSX Venture Exchange (TSX VENTURE:AU), employing the prospect generator business model with a focus on Finland.
For further information on these projects please visit our website at www.aurionresources.com
