Aurion investor Kinross maintains 9.99% ownership

Executive Summary

• Aurion Resources announced a non‑brokered private placement of 11.06 million units at C$0.84 per unit, raising total gross proceeds of $9,290,400.
• Kinross Gold Corp. will purchase an additional 885,000 units (potentially up to 955,000 units) to maintain its ownership near 10 % on a partially diluted basis; this follow‑on raises $743,400 (or $802,200 if the strategic investor exercises its pro‑rata right).
• Net proceeds are earmarked for exploration and advancement of the Flagship Risti project in Finland and for general working capital.

Key Details

• Private Placement Structure: 11.06 M units; each unit = 1 common share + ½ warrant (exercise price $1.08, three‑year term, acceleration possible).
• Pricing & Gross Proceeds: C$0.84 per unit → total consideration of $9,290,400.
• Kinross Follow‑On Purchase:
• Initial purchase: 885,000 units @ C$0.84 = $743,400.
• If strategic investor exercises pro‑rata right (up to 70,000 units @ C$0.84 = $58,800), total Kinross units rise to 955,000 for $802,200.
• Ownership Impact Post‑Closing:
• Kinross: ~9.75 % non‑diluted / ~9.99 % partially diluted (or 9.74 %/9.99 % with strategic investor top‑up).
• Strategic Investor: ~6.89 % non‑diluted / ~9.99 % partially diluted (if top‑up exercised).
• Closing Dates: Primary private placement closed Sept. 3, 2025; Kinross follow‑on expected to close around Sept. 16, 2025, subject to regulatory approvals.
• Hold Period: All securities issued are subject to a four‑month‑plus‑one‑day hold period from closing.
• Use of Proceeds: Primarily for exploration and advancement of the Risti project in Finland; remainder for general working capital.
• Investor Rights Agreement: Grants Kinross rights to top‑up holdings in future dilutive financings to maintain its pro‑rata ownership, including a potential 9.99 % partially diluted stake.

Notable Quotes

(No direct quotes were provided in the release.)