ST. JOHN'S,
NL, March 11, 2024 /CNW/ - Aurion Resources
Ltd. (TSXV: AU) (OTCQX: AIRRF) ("Aurion" or the
"Company") announces that it has received notice (the
"Notice of Sale and Offer") from B2Gold Corp. ("B2Gold"), informing
the Company that B2Gold has received an offer, from Rupert
Resources Ltd. ("Rupert") to acquire B2Gold's 70% interest in
the joint venture between B2Gold and Aurion ("the JV Company"),
which owns properties located in the Central Lapland Greenstone
Belt in northern Finland.
The Notice of Sale and Offer indicates that
B2Gold and Rupert have entered into a letter agreement in respect
of the Offer whereby, as consideration for the Ownership Interest,
Rupert will issue to B2Gold 28,644,111 common shares of Rupert,
implying a total value of C$102.8
million (based upon the market price of such shares as of
March 8, 2024), in exchange for
B2Gold's 70% interest in the JV Company. The transaction is
conditional upon execution of a definitive agreement and investor
rights agreement, completion of mutual due diligence and applicable
regulatory approvals.
The Notice of Sale and Offer was provided to the
Company pursuant to the Shareholders Agreement dated August 14, 2019, among B2Gold, Aurion and the JV
Company (the "Shareholders Agreement"). Pursuant to the
Agreement, Aurion holds a right of first refusal ("ROFR") with
respect to the proposed sale by B2Gold of its interest in the JV
Company. The ROFR provides Aurion with the right to acquire
B2Gold's interest in the JV Company upon terms no less favorable
than those offered by Rupert. Aurion has until May 9, 2024 to decide whether it will exercise
its ROFR.
Aurion is evaluating the Notice of Sale and Offer
and will update the market in due course.
About Aurion Resources
Ltd.
Aurion Resources Ltd. (Aurion) is a well-funded,
Canadian exploration company listed on the TSX Venture Exchange
(TSX-V: AU) and the OTCQX Best Market (OTCQX: AIRRF). Aurion's
strategy is to generate or acquire early-stage precious metals
exploration opportunities and advance them through direct
exploration by our experienced team or by business partnerships and
joint venture arrangements. Aurion's current focus is exploring on
its Risti project, as well as advancing its joint venture
properties with B2Gold Corp. and Kinross
Gold in Finland.
On behalf of the Board of Directors,
Matti Talikka, CEO
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 Aurion Resources Ltd.
