ST. JOHN'S, NEWFOUNDLAND--(Marketwired - Feb. 27, 2017) - Aurion Resources Ltd. (TSX VENTURE: AU) Aurion Resources Ltd. (TSX VENTURE:AU) ("Aurion" or the "Company") is pleased to announce that it has completed its previously announced non-brokered private placement of 5,783,997 common shares (a "Share") at a price of $1.50 per Share, raising gross proceeds of $8,675,995.50 (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.
In connection with the Private Placement, the Company will 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 Shares issued pursuant to the Private Placement, with an exercise price equal to $1.50 for a period of 24 months from the date of closing of the Private Placement.
All securities issued in connection with the Private Placement will be subject to a four-month hold period from the date of closing of the Private Placement.
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
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
