Auryn Resources Arranges $4.6 million Flow-Through Funding
30 Julio 2018 - 6:00AM
Auryn Resources Inc. (TSX: AUG, NYSE AMERICAN: AUG, “Auryn”
or the “Company”), is pleased to announce that it has
arranged a $4.6 million non-brokered flow-through private
placement. The placement will consist of approximately 1.25 million
flow-through common shares (the “
FT Shares”)
priced at CAD$1.60 per FT Share and approximately 1.5 million
charity flow-through shares (the “
Charity FT
Shares”) priced at CAD$ 1.75 per Charity FT Share (the
“
Offering”).
Ivan Bebek, Executive Chairman, commented, “This
offering, raised at a premium to our current share price, will fund
the remainder of our Canadian exploration programs this summer and
preserve our hard dollar treasury for corporate costs and the
ongoing exploration at our Sombrero project in Peru.”
The Company intends to use the net proceeds from
the Offering to fund its summer exploration programs at the
Committee Bay and Gibson MacQuoid gold projects in Nunavut and the
Homestake Ridge gold project in British Columbia.
The FT Shares will qualify as “flow-through
shares” (within the meaning of subsection 66(15) of the Income Tax
Act (Canada)). The Charity FT Shares will also qualify as
“flow-through shares” and will be sold on a charitable flow-through
basis. The gross proceeds of the sale of the Offering will be
used to fund "Canadian exploration expenses" (within the meaning of
the Income Tax Act (Canada)) to be incurred by no later than
December 31, 2019 for renunciation to investors in the Offering
effective December 31, 2018.
The shares under the Offering will be subject to
a four-month hold period and will not be offered or registered in
the United States. Commissions may be paid on a portion of the
proceeds from the Offering. Closing of the Offering is anticipated
to occur on or before August 2, 2018 and is subject to customary
closing conditions including, but not limited to; the negotiation,
execution of subscription agreements and receipt of applicable
regulatory approvals, including approval of the Toronto Stock
Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN
RESOURCES INC.
“Ivan Bebek”
Executive Chairman
For further information on Auryn Resources Inc.,
please contact Natasha Frakes, Manager of Corporate Communications
at (778) 729-0600 or info@aurynresources.com.
About Auryn
Auryn Resources is a technically driven junior
mining exploration company focused on delivering shareholder value
through project acquisition and development. The Company’s
management team is highly experienced with an impressive track
record of success and has assembled an extensive technical team as
well as a premier gold exploration portfolio. Auryn is focused on
scalable high-grade gold deposits in established mining
jurisdictions, which include the Committee Bay and Gibson MacQuoid
gold projects located in Nunavut, the Homestake Ridge gold project
in British Columbia and a portfolio of gold projects in southern
Peru, through Corisur Peru SAC.
Forward Looking Information and additional
cautionary language
This release includes certain statements that
may be deemed “forward-looking statements”. Forward-looking
information is information that includes implied future performance
and/or forecast information including information relating to or
associated with the acquisition and title to mineral concessions.
These statements involve known and unknown risks, uncertainties and
other factors which may cause actual results, performance or
achievements of the Company to be materially different (either
positively or negatively) from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Readers should refer to the risks discussed in the
Company’s Annual Information Form and MD&A for the year ended
December 31, 2017 and subsequent continuous disclosure filings with
the Canadian Securities Administrators available
at www.sedar.com and the Company’s registration statement
on Form 40-F filed with the United States Securities and Exchange
Commission and available at www.sec.gov.
US Investors
This news release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the Common Shares in any jurisdiction in which such
offer, solicitation or sale would be unlawful. The Common Shares
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”) or
any state securities laws and may not be offered or sold within the
United States or to, or for the benefit of, U.S. persons (as
defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state
securities laws or pursuant to an exemption from such registration
requirements.
The Toronto Stock Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release.
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