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ST. JOHN'S NL, July 10, 2023 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") announces that it has amended and closed the option agreement with Dragon Mining Ltd. ("Dragon") to acquire and eliminate all encumbrances on the Kutuvuoma and Silasselk projects, as disclosed in the news release dated May 31, 2023.
Aurion has issued to Dragon 37,500 common shares of Aurion as consideration for the grant of the option. The agreement has been amended to provide that the number of consideration shares that may be issued to Dragon under the agreement will not result in Dragon owning, or having control or direction over, more than 9.9% of the then-issued shares of Aurion. Should the payment result in the potential for that occurring, the balance of the applicable payment will be made in cash.
The amended option agreement has been accepted by the TSX Venture Exchange.