Aurion Resources Ltd. (TSX-V:AU) announces that in conjunction with a previously announced $2.525 million financing it has completed the non-brokered portion of said financing raising proceeds of CAN$1,500,000, pursuant to which it issued 3,750,000 shares at a price of CDN$0.40 per share. The brokered CAN$1.025 million portion of the financing for the same terms closed on September 23, 2016. No fees were payable on the non-brokered portion of the financing.
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 of Northern Finland is highly prospective, underexplored but host to major gold and base metal deposits and mines. It currently has a joint venture with B2Gold Inc. on a 25,000 hectare project area including the Kutuvuoma and Ahvenjarvi projects.
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