ST.
JOHN'S, NL, May 9, 2024
/CNW/ - Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF)
("Aurion" or the "Company") announces that, further to its
news releases of March 11, 2024 and
May 6, 2024, after due consideration
it has decided not to exercise its right of first refusal ("ROFR")
to acquire the 70% interest of B2Gold Corp. ("B2Gold") in the joint
venture company owned by B2Gold and Aurion ("the JV Company"),
which owns exploration properties located in the Central Lapland
Greenstone Belt in northern Finland. The Company will
continue to own its 30% interest and participate as it historically
has in the JV Company.
"After careful consideration Aurion has chosen not to exercise
its RORF to acquire B2Gold's 70% interest in the JV company. Aurion
is keen to minimize shareholder dilution and continue as a partner
in the JV company to unlock further value as the area is developing
towards a new gold camp." commented Matti
Talikka, CEO of Aurion. "Aurion greatly appreciates the
excellent partnership with B2Gold over the past several years and
welcomes Rupert Resources as a new partner in the JV Company, if
the proposed transaction with B2Gold is completed. The current
shareholders agreement for the JV company provides a framework that
aligns interests of partners and enables value accretive progress
of the JV."
As announced in its news release of March
11, 2024, the Company received a notice (the "Notice") from
B2Gold, informing the Company that B2Gold had received an offer,
which it wished to accept, from Rupert Resources Ltd. ("Rupert") to
acquire B2Gold's 70% interest in the JV Company on the terms and
conditions set forth in the Notice. The Notice triggered a
60-day period under the ROFR during which Aurion could elect to
acquire B2Gold's interest on the same terms and conditions as
described in the Notice, which expires May
9th, 2024.
As a result of the Company deciding not to exercise its rights
under the ROFR, B2Gold now has the ability to sell to Rupert its
70% interest in the JV Company for the consideration and on the
terms and conditions set forth in the Notice.
As announced in its new release of May 6,
2024, the Company will continue to consider a range of other
strategic alternatives, at both the asset and corporate level.
About Aurion Resources Ltd.
Aurion Resources
Ltd. (Aurion) is a well-funded, Canadian exploration company listed
on the TSX Venture Exchange (TSX-V: AU) and the OTCQX Best Market
(OTCQX: AIRRF). Aurion's strategy is to generate or acquire
early-stage precious metals exploration opportunities and advance
them through direct exploration by our experienced team or by
business partnerships and joint venture arrangements. Aurion's
current focus is exploring on its Risti project, as well as
advancing its joint venture properties with B2Gold Corp. and
Kinross Gold in Finland.
On behalf of the Board of Directors,
Matti Talikka, CEO
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.
SOURCE Aurion Resources Ltd.