Aurion Resources closes $9.29-million placement

Executive Summary

• Aurion Resources closed a non‑brokered private placement raising $9.29 million from a strategic investor.
• The investor purchased 11.06 million units at C$0.84 per unit, receiving common shares and half‑share purchase warrants exercisable at $1.08 for three years.
• Approximately 75 % of net proceeds will be allocated to exploration and technical work on Auror’s 100 % owned Risti project; the investor also secured board nomination rights and participation rights in future financings.

Key Details

• Units sold: 11.06 million units (each unit = 1 common share + ½ warrant).
• Price per unit: C$0.84, total consideration $9,290,400.
• Post‑offering ownership: ~6.88 % of issued and outstanding common shares on a non‑diluted basis; ~9.98 % on a partially diluted basis.
• Warrant terms: Right to acquire one common share at $1.08 per share for three years from closing; subject to acceleration in certain circumstances.
• Use of proceeds: Minimum 75 % earmarked for advancing exploration and technical programs on the Risti project (100 % owned).
• Investor Rights Agreement: Grants strategic investor:
• Right to participate in future equity financings to maintain pro‑rata ownership or acquire up to a 9.99 % partially diluted stake.
• Nomination right for one board director (or two if the board expands to eight or more members).
• Share lock‑up: Common shares issued are subject to a four‑month‑and‑one‑day hold period under securities law.

Notable Quotes

(No direct quotes were provided in the release.)