Auryn Resources Inc. (TSX-V:AUG) is pleased to announce that it has completed its previously announced private placement. The gross proceeds of $7,313,300 were raised by issuing 11,251,230 common shares of the Company at a price of $0.65 per share. The shares sold under the Offering are subject to a four-month hold period.
A total of $96,423 or approximately 1.3% of the gross proceeds was paid in fees incurred in connection with the Offering and no share purchase warrants were issued. The net proceeds of the Offering will be used by the Company to continue its pursuit of mineral property opportunities globally.
Shawn Wallace, President and CEO stated, “The level of interest that we have experienced during this capital raise, particularly in the context of the current market conditions for junior mining companies, is an excellent endorsement of our Company, our strategy and our track record. The increase in the financing allowed the Company to include several new key cornerstone investors.
Our current cash position, coupled with prudent treasury management, will allow the Company to focus on deploying its capital in the most accretive manner possible so that we may once again create value for our shareholders and stakeholders.”
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