ST. JOHN'S, Sept. 13, 2017 /CNW/ - 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 6,853,500 common shares (a "Share") with Kinross Gold Corporation ("Kinross"). The Shares were issued at a price of $2.32 per Share, raising gross proceeds of $15,900,120 (the "Private Placement"). Following completion of the Private Placement, Kinross owns 9.98% of the issued and outstanding share capital of the Company.
The net proceeds from the Private Placement will be used by the Company for exploration and development of its properties in Finland, and for working capital and general corporate purposes.
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.
For further information on these projects please visit our website at www.aurionresources.com
