Aurion Resources Ltd. (TSXV: AU) announced yesterday a non-brokered private placement with Kinross Gold Corporation. The offering will enable the latter to maintain its 9.98% equity of the company.
The private offering comprises the sale of a minimum of 1,669,769 common shares and a maximum of 1,881,542 common shares at $0.90 per share. Kinross Gold previously purchased 6,853,500 shares from the company to acquire 9.98% ownership
The mining firm also previously announced a brokered private placement earlier this month, offering 15,000,000 shares at $0.90 per share, with an over-allotment option to purchase an additional 1,666,667 shares. This has been made with a syndicate of agents led by Red Cloud Securities Inc.
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Both the closing of the two offerings are expected to be on November 25, 2021, subject to customary closing conditions and regulatory approvals.
Aurion Resources last traded at $1.15 on the TSX Venture.
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