AURION RESOURCES .LTD. ("AU")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: February 18, 2016
TSX Venture Tier 2 Company
The TSX Venture Exchange Inc. (the "Exchange") has accepted documentation in connection with a letter agreement between Aurion Resources Ltd. ("Aurion") and B2Gold Corp. ("B2Gold") dated August 10, 2015 (the "Agreement") under which Aurion has granted B2Gold the right to earn up to an undivided 75% interest in an approximately 25,000 ha project area that includes the Kutuvuoma and Ahvenjarvi projects.
Under the terms of the Agreement B2Gold must complete $5 million in exploration expenditures, pay Aurion $50,000 cash and issue 550,000 B2Gold shares to Aurion over 4 years to earn a 51% interest. B2Gold can earn an additional 19% interest by incurring a further $10 million in exploration expenditures over 2 years. B2Gold can earn an additional 5% interest for a total of 75% interest by completing a bankable feasibility study. The first year commitment of $750,000 in exploration expenditures, payment of $50,000 cash and the issuance of 50,000 B2Gold shares to Aurion is guaranteed.
Aurion will pay a finder's fee of 1,476,750 Shares to Phoenix Advisors Inc (G. Gordon Fernandes).
For further information see Aurion's news release dated August 13, 2015 which is available under the Aurion's profile on SEDAR.
Insider / Pro Group Participation: Nil.
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