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Auryn Resources raises C$14.9M from bought-deal financing

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

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Auryn Resources raises C$14.9M from bought-deal financing

Auryn ResourcesInc. said May 4 that it has completed its previously announced bought-deal offering and raised aboutC$14.9 million, including full exercise of the underwriters' overallotment option.

Under the financing, the company issued a total of 4,285,714common shares at C$1.40 each and 4,732,700 flow-through shares at C$1.89 apiece.

The offering was conducted by a syndicate of underwriters ledby Beacon Securities Ltd. and including PI Financial Corp., Canaccord Genuity Corp.and Echelon Wealth Partners Inc.

Auryn plans to use the funds from the flow-through shares toincur Canadian exploration expenditures that are "flow-through mining expenditures,"in accordance with Canada's tax laws, to be renounced no later than Dec. 31. Meanwhile,proceeds from the sale of the common shares are earmarked for general working capital.