Canadian Mining Journal

News

GOLD: Auryn closes $15M share offering



VANCOUVER – Junior exploration company Auryn Resources has closed a $15-million bought deal offering consisting of both flow-through and common shares. Including the over-allotment, the company issued 4.29 million common shares at a price of $1.40 each and 4.73 million flow-through shares at a price of $1.89.

The offering was conducted by a syndicate of underwriters led by Beacon Securities and including PI Financial, Canaccord Genuity and Echelon Wealth Partners. Gross proceeds were $14.94 million.

Auryn intends to use the flow-through money on its Canadian gold property in Nunavut 300 km northeast of Baker Lake in the Committee Bay greenstone belt. Auryn acquired the Committee Bay project when it purchased North Country Gold Corp. in September 2015. In 2013 the resource estimate at the Three Bluffs deposit was 4.32 million indicated tonnes grading 4.91 g/t Au and 5.52 million inferred tonnes at 5.43 g/t.

Details are available at www.AurynResources.com/projects/committee-bay-jv.