09:42 AM EDT, 09/05/2025 (MT Newswires) -- Aurion Resources ( AIRRF ) said Friday it will sell 885,000 units to Kinross Gold ( KGCRF ) (K.TO, KGC) in a non-brokered private placement for $743,400, allowing Kinross to maintain its ownership position of 9.99% on a partially diluted basis.

Aurion earlier announced a non-brokered placement of 11.1 million units at $0.84 each for $9.3 million to a strategic investor. Each unit consists of one share and one-half of a three-year warrant exercisable at $1.08, subject to acceleration.

Kinross first bought 6.9 million shares in Aurion in 2017, acquiring a 9.98% stake at the time. Following the new placement, Kinross will hold about 9.75% of Aurion's outstanding common shares on a non-diluted basis and 9.99% on a partially diluted basis.

Aurion said proceeds from both offerings will be used for exploration and development of its flagship Risti Project in Finland and for working capital.

Closing of the Kinross placement and the strategic investor's top-up is expected around Sept. 16.

Aurion shares closed Thursday down 4.8% at $1.00 on the TSX Venture Exchange.