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.
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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