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Aurion Resources inks agreement for proposed private placement offering to raise aggregate gross proceeds of no less than $5 million

Published: 09:10 29 Jan 2021 EST

Aurion land
Aurion said the agents have agreed to sell, on a fully marketed basis, without underwriter liability, no less than 5,882,350 common shares of the company at a price of $0.85 each

Aurion Resources Ltd. (CVE:AU) said it has signed an agreement with Cormark Securities Inc. and a syndicate of agents for a proposed private placement offering to raise aggregate gross proceeds of no less than $5 million.

The company said the agents have agreed to sell, on a fully marketed basis, without underwriter liability, no less than 5,882,350 common shares of the company at a price of $0.85 each. The definitive size of the placement will be determined following successful marketing of the offering.

READ: Aurion Resources says latest B2Gold discoveries highlight potential of its Finnish JV area

Aurion said it plans to use the net proceeds from the offering for exploration and general corporate and working capital purposes.

The offering is scheduled to close on or about February 23, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

Aurion Resources is a Canadian company focused on exploring its flagship Risti and Launi projects, as well as advancing joint venture arrangements with Kinross Gold Corp., B2 Gold Corp., and Strategic Resources Inc. in Finland.

Contact the author at jon.hopkins@proactiveinvestors.com

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