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ST.
JOHN's, NL, July 16,
2024 /CNW/ - Aurion Resources Ltd. (TSXV: AU)
("Aurion" or the "Company") announces that due to
significant investor demand, the Company has increased the size of
its previously announced fully marketed private placement (the
"Offering") from C$5,000,000
to C$6,500,000 from the sale of up to
11,818,182 common shares of the Company (the "Shares") at a
price of C$0.55 per Share (the
"Offering Price").
Red Cloud is acting as lead agent
and sole bookrunner on behalf of a syndicate of agents
(collectively, the "Agents") under the Offering. The Company
has granted the Agents an option, exercisable in full or in part,
up to 48 hours prior to the closing of the Offering, to sell up to
an additional 2,727,273 Shares for additional gross proceeds of up
to CAD$1,500,000 (the "Agents'
Option"). If the Agents' Option is exercised in full, the
aggregate gross proceeds of the Offering will be approximately
C$8.0 million.
Subject to compliance with applicable regulatory requirements
and in accordance with National Instrument 45-106 – Prospectus
Exemptions ("NI 45-106"), the Shares will be offered for
sale to purchasers in all of the provinces and territories of
Canada, except Québec, pursuant to
the listed issuer financing exemption under Part 5A of NI 45-106
(the "Listed Issuer Financing Exemption"). The Shares issued
to Canadian resident subscribers will not be subject to a hold
period under applicable Canadian securities legislation. The Shares
may also be sold in offshore jurisdictions and in the United States on a private placement basis
pursuant to one or more exemptions from the registration
requirements of the United States Securities Act of 1933 (the
"U.S. Securities Act"), as amended.
The Company intends to use the proceeds from the Offering for
the advancement of its Risti property in northern Finland, as well as working capital and other
general corporate purposes.
The Offering is scheduled to close on or around August 7, 2024, or such other date(s) as the
Company and the Agents may agree, and is subject to certain
conditions including, but not limited to, receipt of all necessary
approvals including the approval of the TSX Venture Exchange.
There is an amended and restated offering document ("Offering
Document") related to the Offering and the use by the Company
of the Listed Issuer Financing Exemption that can be accessed under
the Company's profile at www.sedarplus.ca and on the Company's
website at www.aurionresources.com. Prospective investors should
read the Offering Document before making an investment
decision.
The securities described herein have not been, and will not be,
registered under the U.S. Securities Act, as amended, or any state
securities laws, and accordingly, may not be offered or sold within
the United States or the US
persons except in compliance with the registration requirements of
the U.S. Securities Act and applicable state securities
requirements or pursuant to exemptions therefrom. This press
release does not constitute an offer to sell or a solicitation to
buy any securities in any jurisdiction.
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 Flagship
Risti project, as well as advancing its joint venture properties
with B2Gold Corp. and Kinross Gold Corporation in Finland.
On behalf of the Board of Directors,
Matti Talikka, CEO
FORWARD-LOOKING INFORMATION
ertain of the statements made and information contained
herein, including statements regarding the use of proceeds raised
under the Offering and final approval relating to the Offering, is
"forward-looking information" within the meaning of applicable
Canadian securities legislation or "forward-looking statements"
within the meaning the Securities Exchange Act of 1934 of
the United States. Generally,
these forward-looking statements or information can be identified
by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results
to differ from those reflected in the forward-looking statements,
including, without limitation, statements in connection with the
Offering and the issuance of the Shares, including the amounts
expected to be raised, the timeline of certain events in respect
thereof, , including the applicable exemptions, , satisfaction of
closing conditions, including the receipt of final acceptance of
the TSX Venture Exchange in respect of the Offering, management's
discretion regarding the use of proceeds risks, and uncertainties
relating to foreign currency fluctuations; risks inherent in mining
including environmental hazards, industrial accidents, unusual or
unexpected geological formations, ground control problems and
flooding; risks associated with the estimation of mineral resources
and reserves and the geology, grade and continuity of mineral
deposits; the possibility that future exploration, development or
mining results will not be consistent with the Company's
expectations; the potential for and effects of labour disputes or
other unanticipated difficulties with or shortages of labour or
interruptions in production; actual ore mined varying from
estimates of grade, tonnage, dilution and metallurgical and other
characteristics; the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses,
commodity price fluctuations; uncertain political and economic
environments; changes in laws or policies, foreign taxation, delays
or the inability to obtain necessary governmental permits; and
other risks and uncertainties, including those described under risk
factors in the Company's current management discussion and
analysis. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in
forward-looking statements. The forward-looking information
contained herein is presently for the purpose of assisting
investors in understanding the Company's plans and objectives and
may not be appropriate for other purposes. Accordingly, readers are
advised not to place undue reliance on forward-looking statement.
The Company assumes no obligation to update any forward-looking
information or to update the reasons why actual results could
differ from such information unless required by applicable
law.
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.