Fury Gold Mines Ltd 6-K, filed Jan 21, 2020
Fury Gold Mines Ltd (FURY)
6-K
2020-01-21
For: 2020-01-21
View Original
Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on January 21, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month
of January 2020
Commission File Number: 001-38145
Auryn Resources Inc.
(Translation of registrant's name into English)
(Translation of registrant's name into English)
Suite 600,
1199 West Hastings Street
Vancouver, British Columbia, V6E 3T5 Canada
(Address of principal executive office)
Vancouver, British Columbia, V6E 3T5 Canada
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form
40-F.
Form 20-F [ ] Form 40-F [ X ]
Form 20-F [ ] Form 40-F [ X ]
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1):
SUBMITTED
HEREWITH
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
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Auryn Resources
Inc.
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(Registrant)
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Date: January 21, 2020
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/s/ Stacy Rowa
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Stacy Rowa
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Chief Financial Officer
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Exhibit 99.1
Auryn to Raise $10 Million and to Amend Bridge Loan
Vancouver, Canada – January 21, 2020 – Auryn Resources
Inc. (TSX: AUG, NYSE American: AUG) (“Auryn” or the
“Company) is pleased to
announce that it has arranged a CAD $10 million non-brokered
private placement. The placement will consist of approximately 6.3
million common shares (the “Shares”) priced at CAD$1.60
per Share to be issued to accredited investors in Canada and
overseas.
In conjunction with the equity placement, the Company has agreed
with the lender under a September 2019 bridge loan (see
September
13, 2019 news release) to amend
the loan to add mutual conversion rights of the loan into common
shares. The loan terms will provide the lender with a
convertibility right into common shares, on the $3 million that has
been advanced to-date, at the placement price of $1.60, however,
the lender may be required to convert if the Company’s shares
trade on the TSX at a price of $2.50 or more for any five
consecutive trading days prior
to the loan’s maturity date. The lender has also agreed to
reduce the interest rate of the loan to 5% per annum. The
completion of the placement and loan amendment are subject to
execution of agreements, TSX and NYSE approvals and other customary
closing conditions.
The Company intends to use the net proceeds from the placement to
fund continued surface exploration at its Sombrero and Curibaya
projects located in southern Peru and for general working capital.
Certain insiders may participate in the placement.
The Shares issued under the placement will be subject to a
four-month hold period and will not be sold or registered in the
United States. While the placement is non-brokered, referral fees
may be paid on a portion of the proceeds to eligible persons where
permitted by applicable law. Closing of the placement and loan
amendment is anticipated to occur on or about January 31, 2020
subject to the closing conditions being achieved by then.
The loan amendment and placement transactions are
interdependent.
A Message from Ivan Bebek, Executive Chairman &
Director:
“Auryn
continues to see significant financial support for its programs
from the financial community. This placement and loan amendment
position us to execute on our exploration programs with a robust
balance sheet going into 2020, which we believe could be a pivotal
year for us.”
On Behalf of the Board,
Ivan Bebek
Executive Chairman and Director
For further information on Auryn Resources, please contact Natasha
Frakes, Manager of Corporate Communications at (778)
729-0600 info@aurynresources.com
About Auryn
Auryn Resources is a technology-driven junior exploration company
focused on finding and advancing globally significant precious and
base metal deposits. The company has a portfolio approach to asset
acquisition and has seven projects, including two flagships: the
Committee Bay high-grade gold project in Nunavut and the Sombrero
copper-gold project in southern Peru. Auryn’s technical and
management teams have an impressive track record of successfully
monetizing assets for all stakeholders and local communities in
which it operates. Auryn conducts itself to the highest standards
of corporate governance and sustainability.
About Sombrero
This project consists of the North Sombrero and South Sombrero
properties, comprising over 130,000 hectares owned or optioned by
Auryn Resources. The copper-gold Sombrero mining concessions are
located 340 kilometers SE of Lima in southern Peru and are hosted
in the Andahuaylas-Yauri belt. This belt is interpreted to be on
the north-western margins of this Eocene-Oligocene aged copper-gold
porphyry and skarn belt that hosts the Las Bambas, Haquira, Los
Chancas, Cotambambas, Constancia, Antapaccay and Tintaya deposits.
The project is characterized by a strong structural control and
significant copper and gold values from historical surface samples.
The principal targets at Sombrero are copper-gold skarn and
porphyry systems and precious metal epithermal
deposits.
About Curibaya
Auryn acquired 100% ownership of the Curibaya property in 2015 and
the adjacent Sambalay and Salvador concesssions in 2019, which
collectively consist of approximately 11,000 hectares. The Curibaya
Project covers the regional Incapuquio fault zone and subsidiary
structures, which are interpreted as one of the fundamental
controls for both epithermal and porphyry styles of mineralization
within the region.
Forward Looking Information and Additional Cautionary
Language
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein, and these securities were not offered or sold in any
jurisdiction in which their offer or sale would be unlawful. The
securities have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, (the “Act”) or any
state securities laws of the United States. Accordingly, these
securities were not offered or sold to persons within the
United States and will not be offered or sold unless an
exemption from the registration requirements of the Act and
applicable state securities laws is available.
This release includes certain statements that may be deemed
“forward-looking statements”. Forward-looking
information is information that includes a proposed financing and
completion if a proposed loan amendment as well as information
relating to or associated with the acquisition and title to mineral
concessions. In addition to the stated conditions to complete the
transactions forward looking statements involve other known and
unknown risks, uncertainties and other factors which may cause
actual results, performance or achievements of the Company to be
materially different (either positively or negatively) from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Readers should refer to the risks
discussed in the Company’s Annual Information Form and
MD&A for the year ended December 31, 2018 and subsequent
continuous disclosure filings with the Canadian Securities
Administrators available at www.sedar.com and the Company’s registration
statement on Form 40-F filed with the United States Securities and
Exchange Commission and available at www.sec.gov.
The Toronto Stock Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.