Auryn and Eastmain Announce Completion ofC$23 Million Equity Financing - Limited
Summary
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVancouver & Toronto, Canada September 24, 2020 Auryn Resources Inc. (TSX: AUG, NYSE American: AUG) (Aurynor theCompany) 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 sale of the Subscription Receipts fulfills a principal closing condition for the Transaction.This financing is an integral part of the Fury business plan of building a Canadian gold mining company. 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 Companys and Eastmains 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. 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. Readers should refer to the risks discussed in the Companys 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 Companys 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.