Auryn Resources Inc. (TSX: AUG; OTCQX: GGTCF) has completed its previously announced equity placement with Goldcorp Inc. (TSX: G; NYSE: GG), as well as the equity placement of flow-through (FT) common shares.
Auryn Resources received gross proceeds of $41,172,311.46 by issuing 9,542,402 common shares, of which 4,590,818 FT shares sold by a syndicate of agents led by Beacon Securities Limited and including Echelon Wealth Partners Inc., Haywood Securities Inc. and PI Financial Corp.
Goldcorp’s total investment amounted to C$35,020,615.34, through the subscription of 4,951,584 common shares at $3.67 per share directly and 3,362,934 FT shares at $5.01 per FT share directly through the placement.
Goldcorp now owns a 12.5% interest in the outstanding common shares and has the right to maintain this percentage interest subject to certain obligations in an Investor Rights and Obligations agreement.
photo credit: Auryn Resources