Business
OREX MINERALS INC. PROVIDES UPDATE ON THE SALE OF ITS OWNERSHIP INTEREST IN THE CONETO SILVER-GOLD PROJECT
Orex Minerals Inc. (TSXV: REX) (OTCQB: ORMNF) ("Orex" or the "Company") is pleased to provide an update on the previously announced binding term sheet with Silver Viper Minerals Inc. ("Silver Viper") and Fresnillo plc ("Fresnillo") to sell its ownership interest in the Coneto Silver-Gold Project (the "Transaction").
About this update from Fresnillo Plc
[{"type":"text","content":"VANCOUVER, BC, Feb. 5, 2026 /CNW/ - Orex Minerals Inc. (TSXV: REX) (OTCQB: ORMNF) ("Orex" or the "Company") is pleased to provide an update on the previously announced binding term sheet with Silver Viper Minerals Inc. ("Silver Viper") and Fresnillo plc ("Fresnillo") to sell its ownership interest in the Coneto Silver-Gold Project (the "Transaction").","length":433,"tagName":"p"},{"type":"image","alt":"Orex Logo (CNW Group/Orex Minerals Inc.)","displaySize":"","headline":null,"caption":"Orex Logo (CNW Group/Orex Minerals Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":102,"height":112,"url":"https://media.zenfs.com/en/cnwgroup.com/a3b50d3b19b7d0d943c2a3539359a933"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/rJcxeIkUJstE0yqZ5JNz2Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTExMDtoPTEyMTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/a3b50d3b19b7d0d943c2a3539359a933","width":102,"height":112}},"href":"https://mma.prnewswire.com/media/2877520/Orex_Minerals_Inc__OREX_MINERALS_INC__PROVIDES_UPDATE_ON_THE_SAL.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Orex, Fresnillo and Silver Viper remain committed to completing the Transaction and continue to make steady progress toward executing a definitive share purchase agreement (the "SPA") and subsequent closing. While the initial target date of January 2026, for entering into the SPA was not met, work is advancing on the final steps necessary to execute the SPA and complete the Transaction. The parties continue to collaborate on finalizing the SPA, securing the required approvals and satisfying closing conditions, and Orex expects to consummate the Transaction.","length":653,"tagName":"p"},{"type":"text","content":"Other than the form of consideration to be received by Orex, there have been no material changes to the terms of the Transaction as previously announced. Orex will now receive consideration comprised of a combination of cash and common shares of Silver Viper, with the aggregate amounts to be determined and finalized in the SPA.","length":329,"tagName":"p"},{"type":"text","content":"The principal terms of the Transaction, consistent with prior disclosure and as c...