Fury Gold Mines Ltd 6-K, filed Sep 24, 2020
Fury Gold Mines Ltd (FURY)
6-K
2020-09-24
For: 2020-09-24
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on September 24, 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 September 2020
Commission File No.
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]
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) [ ]
Indicate by check mark
if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7) [ ]
SUBMITTED
HEREWITH
Exhibits
Press Release
- Auryn and Eastmain Announce Completion of C$23
Million Equity Financing
SIGNATURE
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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Date: September 24,
2020
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By:
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/s/ Elizabeth
Senez
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Elizabeth
Senez
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Interim
Chief Financial Officer
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Exhibit
99.1
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Auryn and Eastmain Announce Completion of C$23 Million Equity
Financing
Vancouver
& Toronto, Canada – September 24, 2020 – Auryn
Resources Inc. (TSX: AUG, NYSE American: AUG) (“Auryn” or the “Company”) and Eastmain Resources
Inc. (TSX: ER) (“Eastmain”) are pleased to jointly
announce that Auryn has today completed the equity financing
announced August 31, 2020 by raising C$23 million through the
issuance of 7,750,000 subscription receipts (the
“Subscription
Receipts”). The bought-deal financing was arranged by
a syndicate of Canadian underwriters. The Subscription Receipts
will be exchanged for common shares of Fury Gold (as defined below)
concurrently with the release of the escrowed proceeds from the
sale of the Subscription Receipts as the final step of the
previously announced plan of arrangement transactions pursuant to
which Auryn is reorganized and acquires Eastmain (the
“Transaction”).
Under the Transaction, Auryn will acquire Eastmain after spinning
out Auryn’s Peruvian assets into two new companies and
distributing the shares of those new companies to Auryn
shareholders. The Transaction will also create Fury Gold Mines
Limited (“Fury
Gold”), a leading developer of Canadian gold projects.
The sale of the Subscription Receipts fulfills a principal closing
condition for the Transaction.
A Message from Ivan Bebek, Executive Chairman & Director of
Auryn:
“This
financing is an integral part of the Fury business plan of building
a Canadian gold mining company. The financing fulfills one of the
key closing conditions of the Transaction with Eastmain, which we
expect to close on October 9, 2020.
“The
fully funded 50,000-meter drill program at and around the Eau
Claire deposit in Quebec will be a significant catalyst for
investors. We appreciate the continued support of the Auryn
shareholders who participated and welcome the new future Fury
shareholders.”
A Message from Blair Schultz, Interim President & CEO of
Eastmain:
“This
financing puts Fury Gold in a strong position to deliver on its
plans to expand the Eau Claire deposit and explore several of the
untested targets in Quebec as a first step in increasing potential
value for shareholders.”
Of the
Subscription Receipts sold, 5,000,000 were flow-through at a price
of C$3.50 each and will be exchanged for Fury Gold common shares
designated as “flow-through shares”, while 2,750,000
Subscription Receipts were sold as non-flow-through and will be
exchanged for Fury Gold common shares. Pricing of the Subscription
Receipts is reflective of Auryn’s Peruvian assets being
spun-out to Auryn shareholders prior to the Subscription Receipts
being exchanged for Fury Gold shares. The Fury Gold
“flow-though shares” will be identical to its ordinary
common shares, except that they will provide certain Canadian
income tax deductions to the buyers related to the use of the
proceeds for mineral exploration in Quebec.
Further
details regarding the Transaction, including its principal
completion conditions can be found in each of the Company’s
and Eastmain’s management information circulars dated
September 3, 2020 and filed under each of their profiles at
www.sedar.com.
These securities will not be registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from
the registration requirements. These securities have been sold and
this announcement appears as a matter of record only.
ON
BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES
INC.
Ivan Bebek
Executive
Chairman and Director
ON
BEHALF OF THE BOARD OF DIRECTORS OF EASTMAIN RESOURCES
INC.
Blair Schultz
Interim President and CEO
For
further information please contact:
Auryn
Resources
Natasha Frakes,
Manager of Corporate Communications
778-729-0600
info@aurynresources.com
Eastmain
Resources
Blair
Schultz, Interim President and CEO
647-347-3735
bschultz@eastmain.com
About Auryn
Auryn
Resources is a technically-driven, well-financed junior exploration
company focused on finding and advancing globally significant
precious and base metal deposits. The Company built a portfolio of
six projects in Canada and Peru containing gold, silver and
copper resources and exploration targets. On July 29, 2020,
Auryn announced its intention to spin out its Peruvian assets
into two new companies and acquire Eastmain, creating a Canadian
gold-focused exploration and development company to be renamed
as Fury Gold Mines Limited. The Company’s two flagship
Canadian properties are the Committee Bay gold project in Nunavut
and Homestake gold project in British Columbia for which an amended
preliminary economic assessment was filed effective June 24, 2020.
Upon closing of the Transaction, expected
in October 2020, Fury Gold’s three core
assets will comprise of Eau Claire in Quebec, Committee
Bay and Homestake Ridge. Auryn shareholders, invested prior to the
completion of the transactions, will become shareholders of
Fury Gold and will also receive shares in the two
new Canadian spin out companies, one holding the Sombrero
copper-gold project, and the other holding both the Curibaya
silver-gold project and Huilacollo gold project. 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. For
more information on the company and the transactions, please
visit www.aurynresources.com.
About Eastmain
Eastmain
is a Canadian exploration company operating in the Eeyou Istchee
emerging James Bay gold camp in Quebec. Eastmain holds a
100%-interest in the Clearwater Property, host of the Eau Claire
Project, for which it issued a Preliminary Economic Assessment in
May 2018, and the Percival Discovery made in November 2018.
Eastmain is also the operator of the Eleonore South Joint Venture,
located immediately south of Newmont’s Eleonore Mine, which
hosts the Moni/Contact Trend Discovery (2017)
Forward Looking Information and Additional Cautionary
Language
This
release includes certain statements that may be deemed
"forward-looking statements". Forward looking information is
information that includes implied future performance and/or
forecast information including information relating to or
associated with the Transaction, including the expected closing
date and the benefits of the Transaction, and the use of proceeds
from the sale of the Subscription Receipts. These statements
involve 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, 2019
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 has not reviewed and does not accept
responsibility for the adequacy or accuracy of this
release.