Proceeds earmarked for exploration of company’s Los Crestones Property
By Devika Patel
Knoxville, Tenn., Jan. 16 – Orex Minerals Inc. said it arranged a C$1.2 million non-brokered private placement of stock on Thursday.
The company will sell 4.8 million common shares at C$0.25 per share. The price per share represents a 10.71% discount to the Jan. 14 closing share price of C$0.28.
Settlement is expected Jan. 19.
Proceeds will be used for exploration and development of the company’s Los Crestones Property in Sinaloa, Mexico, and for general corporate and working capital purposes.
Based in Vancouver, B.C., Orex mines for silver and gold.
| Issuer: | Orex Minerals Inc.
|
| Issue: | Common shares
|
| Amount: | C$1.2 million
|
| Shares: | 4.8 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 19
|
| Stock symbol: | TSX Venture: REX
|
| Stock price: | C$0.28 at close Jan. 14
|
| Market capitalization: | C$30.08 million
|
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