Aurion Resources (TSXV: AU) this morning announced that it intends to conduct a private placement for gross proceeds of no less than $5.0 million. The offering, lead by Cormark Securities, will see at least 5.9 million common shares of the company sold.
Shares under the offering are to be priced at $0.85 per share, with no warrant involved within the financing. The company intends to provide the definitive size of the offering within “the context of the market following successful marketing of the offering.” The short of it appears to be that the company will willingly take any funds that are offered to it.
Proceeds from the offering are to be used for exploration and general corporate and working capital purposes.
The offering is currently expected to close February 23, 2021.
Aurion Resources last traded at $0.95 on the TSX Venture.
Information for this analysis was found via Sedar and Aurion Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.