July 29 (Reuters) - Auryn Resources Inc AUG.TO :
* AURYN TO ACQUIRE EASTMAIN RESOURCES AND SPIN OUT PERUVIAN ASSETS
* AURYN RESOURCES - TRANSACTION WILL CREATE FURY GOLD MINES LIMITED AND TWO INDEPENDENT SPIN-OUT ENTITIES WHICH WILL HOLD AURYN'S PERUVIAN PROJECTS
* CONCURRENT WITH SPIN-OUT OF PERUVIAN PROJECTS, FURY GOLD WILL CONSOLIDATE ITS SHARES BY APPROXIMATELY 10:7
* AURYN RESOURCES - FURY GOLD IS EXPECTED TO REMAIN LISTED ON TSX AND NYSE AMERICAN EXCHANGES, AND WILL BE LED BY NEW PRESIDENT & CEO MIKE TIMMINS
* AURYN RESOURCES - ABOUT 110 MILLION FURY GOLD SHARES WILL BE OUTSTANDING AFTER EASTMAIN ACQUISITION (PRE-FINANCING)
* AURYN-EASTMAIN SHAREHOLDERS AS OF CLOSING WILL BE ENTITLED TO RECEIVE ABOUT 0.117 OF A FURY GOLD SHARE (ABOUT 0.165 OF AN AURYN SHARE PRE-CONSOLIDATION)
* AURYN-ADJUSTING ASSUMED VALUE OF SPINCO SHARES BASED ON INDEPENDENT VALUATION REPORT RECEIVED BY CO,C$121M OFFER REPRESENTS ABOUT C$0.42/EASTMAIN EARNINGS PER SHARE