Aurion Announces C$5 Million Bought Deal Private Placement of Common Shares
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Aurion Resources Ltd. (TSXV:AU) (“Aurion” or the “Company”) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (“Haywood”) as lead underwriter on behalf of a syndicate of underwriters (collectively with Haywood, the “Underwriters”), whereby the Underwriters have agreed to purchase, on a “bought deal” private placement basis, 4,762,000 common shares (the “Common Shares”) of the Company, at a price of C$1.05 per Common Share (the “Issue Price”), for gross proceeds to the Company of C$5,000,100 (the “Offering”).
The Company has also granted the Underwriters an option, exercisable at any time up to 48 hours prior to the closing of the Offering, in whole or in part by Haywood on behalf of the Underwriters, to purchase up to an additional 15% of the number of Common Shares issuable under the Offering on the same terms and conditions.
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.
The closing of the Offering is expected to occur on or about April 10, 2019 and is subject to the receipt of any necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory four-month hold period.
In consideration for their services, the Underwriters 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.
The securities offered have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
For further information on Aurion Resources Ltd please contact:
Mike Basha, President & CEO, at (709) 699-8300 or (709) 722-2141 or email@example.com
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.