Aurion Closes Brokered Private Placement of $1.025 million
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Sept. 23, 2016) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Aurion Resources Ltd. ("Aurion" or "Company") (TSX VENTURE:AU) announces that in conjunction with a previously announced $2.525 million financing, it has completed the brokered portion of said financing raising proceeds of CAN$1,025,000, pursuant to which it issued 2,562,500 shares at a price of CDN$0.40 per share to one subscriber. Haywood Securities Inc. acted as the agent on this portion of the financing and will be paid a finder's fee of 6% cash.
The $1.5 million non-brokered portion of the financing has been fully subscribed and will close early next week.
The proceeds of the proposed financing will be used for advancing our existing portfolio of 100% owned projects in Finland, project generation and for general working capital purposes.
All securities issued under the Offering will be subject to a four-month hold period from the date of issue. This transaction is subject to final documentation and approval of the TSX Venture Exchange.
About Aurion
Aurion is focused on precious metals exploration in Finland. Aurion controls approximately 300,000 hectares of exploration tenements in the Central Lapland Greenstone Belt ("CLGB") of Northern Finland is highly prospective, underexplored but host to major gold and base metal deposits and mines. It currently has a joint venture with B2Gold Inc. on a 25,000 hectare project area including the Kutuvuoma and Ahvenjarvi projects.
Qualified Person
Mike Basha, P.Eng., P.Geo., Aurion's President and CEO, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.
Forward-Looking Statement
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
On behalf of the Board,
Mike Basha, President & CEO
For further information on these projects please visit our website at www.aurionresources.com.
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.
These securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "US Securities Act"), or under any securities laws of any state or other jurisdiction of the United States and may not be offered, sold, taken up, transferred or delivered, directly or indirectly, within the United States or to or on behalf of a U.S. person (as defined in Regulation S under the US Securities Act). Resales of these securities acquired by any U.S. person in the secondary market may be made only pursuant to Rule 904 under Regulation S, or pursuant to another exemption from the registration requirements of the US Securities Act.
Contact
Aurion Resources Ltd.
Mike Basha
(709) 699-8300 or (709) 722-2141
mbasha@aurionresources.ca
www.aurionresources.com