Gold and Silver miners (Jr and Exploration)

[Edge83]

Auryn resources announces $8.5M financing

Mar. 13, 2018 9:30 AM ET|About: Auryn Resources Inc. (AUG)|By: Niloofer Shaikh, SA News Editor

Auryn Resources (NYSEMKT:AUG) entered into an agreement with Cantor Fitzgerald Canada Corporation as bookrunner and lead underwriter, on behalf of itself and a syndicate of underwriters to purchase 5,230,770 common shares of the Company at the price of $1.30 per share for aggregate gross proceeds of ~$6.8M.

The Company plans to concurrently conduct a private placement financing involving the sale of up to 955,384 flow-through common shares of the Company at a 40% premium to the Issue Price for anticipated proceeds of up to $1.7M.

The Company has agreed to grant to the Underwriters an over-allotment option to purchase up to an additional 784,615 Offered Shares at the Issue Price for a period of up to 30 days after the closing of the Offering for potential additional gross proceeds to the Company of up to ~$1.02M.

CFCC is acting as the sole book-running manager for the Offering.

The Offering is expected to close on or about March 23.