Aurion Announces Overnight Marketed Private Placement of up to C$7 MM of Common Shares Led by a C$5 Million Investment from Eric Sprott

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Aurion Announces Overnight Marketed Private Placement of up to C$7 MM of Common Shares Led by a C$5 Million Investment from Eric Sprott

Canada NewsWire

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

ST. JOHN'S, July 9, 2019 /CNW/ - Aurion Resources Ltd. (TSXV: AU) ("Aurion" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of agents led by Cormark Securities Inc. (collectively, the "Agents") pursuant to which the Agents will conduct an overnight marketed offering of common Shares (the "Securities") from the treasury of the Company on a private placement basis, at a price of $1.50 per Security (the "Offering").

The Company is pleased to announce that Eric Sprott has agreed to purchase $5 Million of the Offering. On completion of the Offering, Eric Sprott will own ~5.2% of Aurion on a basic shares outstanding basis.

The Company has granted the Agents an option (the "Agents' Option") to purchase up to an additional 15% of the Securities of the Offering on the same terms exercisable at any time up to 2 business days prior to the closing of the Offering.

Closing of the Offering is expected to occur on or about July 31, 2019 and is subject to regulatory approval, including that of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory four-month hold period.

The net proceeds received by the Company from the Offering will be used for exploration of Aurion's properties in Finland and for working capital and general corporate purposes.

In consideration for their services, the Agents will receive a cash commission equal to 6.0% of the gross proceeds of the Offering and broker warrants to purchase a number of common shares equal to 6.0% of the number of Common Shares issued under the Offering at a price per common share equal to the issue price for a period of 24 months from the closing of the Offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information on these projects please visit our website at www.aurionresources.com

On behalf of the Board,
Mike Basha, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Aurion Resources Ltd.

View original content: http://www.newswire.ca/en/releases/archive/July2019/09/c0293.html

Copyright CNW Group 2019

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).