Kinross Agrees to Purchase Additional Shares /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
ST. JOHN'S, NL, Nov. 19, 2021 /CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the "Company") is pleased to announce a non-brokered private placement of common shares (the "Kinross Private Placement") by Kinross Gold Corporation ("Kinross") which, on closing, will enable Kinross to maintain its ownership position of 9.98% of the issued and outstanding common shares of the Company.
By news releases dated November 4, 2021 and November 5, 2021, the Company announced a brokered private placement of 15,000,000 Common Shares at a price of C$0.90 per Common Share (the "Brokered Offering") through a syndicate of agents led by Red Cloud Securities Inc. (collectively, the "Agents").
The Company has also granted the Agents an option (the "Agents' Option"), exercisable at any time up to 48 hours prior to the closing of the Brokered Offering, to purchase up to an additional 1,666,667 common shares issuable under the Brokered Offering on the same terms and conditions.