Aurion Closes Private Placement of $8,675,995
ST. JOHN'S, NEWFOUNDLAND--(Marketwired - Feb. 27, 2017) - Aurion Resources Ltd. (TSX VENTURE: AU)
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES
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 5,783,997 common shares (a "Share") at a price of $1.50 per Share, raising gross proceeds of $8,675,995.50 (the "Private Placement").
The net proceeds from the Private Placement will be used by the Company for exploration on its 100% owned property portfolio, including the Risti Project located in Northern Finland, and for working capital and general corporate purposes.
In connection with the Private Placement, the Company will pay finder's fees equal to 6.0% of the gross proceeds of the Private Placement and issue compensation options equal to 6.0% of the number of Shares issued pursuant to the Private Placement, with an exercise price equal to $1.50 for a period of 24 months from the date of closing of the Private Placement.
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.
About Aurion
Aurion Resources Ltd. is a Canadian precious metals exploration company listed on the TSX Venture Exchange (TSX VENTURE:AU), employing the prospect generator business model with a focus on Finland.
For further information on these projects please visit our website at www.aurionresources.com
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.
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.
Contact
Aurion Resources Ltd.
Mike Basha
(709) 699-8300 or (709) 722-2141
mbasha@aurionresources.ca
www.aurionresources.com
Gordon Fernandes
Capital Markets Advisor
(647) 206-7440
Gordon.fernandes@phoenixadvisors.ca
