Fury Gold Mines Ltd 6-K, filed Feb 6, 2020
Fury Gold Mines Ltd (FURY)
6-K
2020-02-06
For: 2020-02-06
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Added on
April 10, 2026
About this 6-K
Fury Gold Mines Ltd filed this 6-K on February 6, 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 February 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: February 6, 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 Closes Non-Brokered Private Placement and Bridge Loan
Amendment
Vancouver, Canada – February 6th,
2020 – Auryn Resources Inc. (TSX: AUG, NYSE American: AUG)
(“Auryn” or the “Company”)
is pleased to announce that it has
closed its previously announced non-brokered private placement for
gross proceeds of CAD$10.1 million which consisted of the issuance
of 6,312,500 common shares (the “Shares”) priced at CAD$1.60 per Share (the
“Offering”). The private placement included total
insider participation of 271,875 Shares for proceeds of
$435,000.
Concurrent with the closing of the Offering, the Company completed
the amendment to its September 2019 bridge loan (the
“Loan
Amendment”). The Loan
Amendment allows the lender to convert the $3 million of principal
that has been advanced to-date, and $123,334 of interest that has
accrued to-date, into common shares at the placement price of
$1.60, allowing for the issuance of up to 1,952,084 common shares
on conversion. The Loan Amendment also gives the Company the right
to require conversion if the Company’s common 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 interest
rate of the bridge loan has been reduced to 5% per annum from the
date of the Loan Amendment.
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.
The Shares issued under the Offering are subject to a four-month
hold period under Canadian securities laws. A total of $59,000 was
paid in commissions for the Offering.
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 or
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 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.
US Investors
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.
The Toronto Stock Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.