VANCOUVER, Feb. 17, 2014 /CNW/ - Auryn Resources Inc. (TSXV: AUG) ("Auryn" or the "Company"), is pleased to announce that it has increased the non-brokered
financing announced on January 23rd from $500,000 to $575,000 as a result of increased demand. The
non-brokered private placement is now complete. The gross proceeds of
CAD$575,000 were raised by issuing 1,150,000 common shares of the
Company at a price of CAD$0.50 per share (the "Offering"). The shares sold under the Offering are subject to a four-month hold
period in Canada.
No broker fees or commissions were paid in connection with the Offering.
The net proceeds of the Offering will be used by the Company to
continue its pursuit of mineral property opportunities in and across
The Company is also pleased to announce the appointment of Michael
Henrichsen to the position of Chief Operating Officer. Mr. Henrichsen
is a structural geologist that is leading the Auryn technical team.
Previously Mr. Henrichsen was a global specialist at Newmont where his
contributions significantly increased the reserves and resources base
in the Ahafo district in Ghana. Mr. Henrichsen has also worked
extensively at other major gold camps including Yanacocha Peru, Nevada,
Guinea and Canada.
The Company, under the terms of its existing stock option plan, will
grant an initial 1,580,000 incentive stock options to employees,
directors and consultants, exercisable at a price of $0.51 per share
for a period of five years from the date of grant. Any shares issued
under the option grant will be subject to a four-month hold period from
the date of granting, pursuant to the policies of the TSX Venture
On Behalf of the Board
Shawn Wallace President, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Auryn Resources Inc.
For further information:
President, CEO and Director