|Auryn Resources - AUG.v is focused on scalable high-grade gold deposits in established mining jurisdictions, which include the Committee Bay gold project located in Nunavut, the Homestake Ridge gold project in British Columbia and a portfolio of gold projects in southern Peru.|
On January 9, 2016 the company released NEWS
Auryn Resources Inc. (TSX: AUG, OTCQX: GGTCF) (“Auryn” or the “Company”) is pleased to announce that it has entered into an Investment Agreement with Goldcorp Inc. (“Goldcorp”) (TSX: G, NYSE: GG) for a strategic equity placement whereby Goldcorp will purchase directly and indirectly in two tranches 9,542,402 common shares of Auryn for C$3.67 per share (the “Placement”). After giving effect to the Placement, Goldcorp will own 12.5% of Auryn’s outstanding common shares.
In addition, Auryn and Goldcorp have entered into an Investor Rights and Obligations Agreement whereby, as long as Goldcorp maintains a 5% or greater equity ownership interest in Auryn: •Goldcorp will have the right to participate in future Auryn equity issues in the amount necessary to maintain up to a 12.5% interest; •Goldcorp will have a right to match certain non-equity financings; and •If Goldcorp chooses to sell more than 2% of Auryn’s shares, Auryn will have the right to designate buyers and Goldcorp will vote its shares to elect the Auryn recommended director nominees.