ST. JOHN'S, NEWFOUNDLAND -- (Marketwired) -- 09/08/16 -- Aurion Resources Ltd. ("Aurion" or "Company") (TSX VENTURE: AU) announces that it intends to complete a financing to raise aggregate proceeds of up to $2,525,000. The financing will comprise a brokered financing tranche of $1,025,000 and a non-brokered tranche of $1,500,000, pursuant to which it will issue an aggregate of 6,250,000 million shares at a price of CDN$0.40 per share. Haywood Securities Inc. has agreed to act as the agent on the brokered tranche of the financing and will be paid a finders fee of 6% cash. No fees are applicable to the non-brokered portion.
The proceeds of the proposed financing will be used for advancing our existing portfolio of 100% owned projects in Finland, project generation and for general working capital purposes.
All securities issued under the Offering will be subject to a four-month hold period from the date of issue. This transaction is subject to final documentation and approval of the TSX Venture Exchange.
Aurion is focused on precious metals exploration in Finland. Aurion controls approximately 300,000 hectares of exploration tenements in the Central Lapland Greenstone Belt ("CLGB") of Northern Finland is highly prospective, underexplored but host to major gold and base metal deposits and mines. Aurion has identified 7 individual projects on its wholly owned ground. It currently has a joint venture with B2Gold Inc. on a 25,000 hectare project area including the Kutuvuoma and Ahvenjarvi projects.
Mike Basha, P.Eng., P.Geo., Aurion's President and CEO, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
On behalf of the Board,
Mike Basha, President & 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.
Aurion Resources Ltd.
(709) 699-8300 or (709) 722-2141