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Aurion raising C$5M in bought-deal offering

Aurion Resources Ltd. aims to raise about C$5 million through a bought-deal offering of 4,762,000 shares at C$1.05 apiece.

A syndicate of underwriters led by Haywood Securities Inc. agreed to buy the shares, according to a March 18 release.

In addition, the company also granted the underwriters an option to purchase up to an additional 15% of the shares. The offering's closing date is expected by April 10, subject to regulatory approvals.

The company intends to use the net proceeds to fund exploration at its properties in Finland, as well as for working capital and general corporate purposes.