Exploration and development companies Auryn Resources and Eastmain Resources have announced their combination, which will create new Canadian gold developer – Fury Gold Mines.
The companies announced on Wednesday that they had entered into a definitive agreement pursuant to which Auryn would acquire all the issued and outstanding shares of Eastmain, immediately following a spin out of Auryn’s Peruvian projects to Auryn shareholders and completion of a concurrent financing.
The transaction would create Fury Gold Mines and two independent spin-out entities, which would hold Auryn’s Peruvian projects.