New York, Oct. 23 - Orex Exploration Inc. said it closed a C$2.11 million non-brokered private placement.
The company sold 21.1 million units at C$0.10 each.
Each unit is made up of one common share and one warrant. Warrants are exercisable at C$0.125 a share for three years.
Finders fees and warrants were paid to Euroglobal Capital Partners, Canaccord Capital Corp. and Haywood Securities Inc.
Proceeds will be used for working capital purposes, acquisitions and exploration and development work.
Orex is a Montreal-based junior resource and exploration company that holds a 100% interest in the Goldboro Gold Project in Nova Scotia.
| Issuer: | Orex Exploration Inc.
|
| Issue: | Units of stock and warrants
|
| Amount: | C$2.11 million
|
| Units: | 21.1 million
|
| Price: | C$0.10
|
| Warrants: | For 21.1 million shares
|
| Warrant strike price: | C$0.125
|
| Warrant expiration: | 3 years
|
| Settlement date; | Oct. 23
|
| Agent: | Non-brokered
|
| Stock symbol: | TSX Venture: OX
|
| Stock price: | C$0.145 at close on Oct. 23
|
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