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Eric Sprott Increases Interest in Orefinders
Eric Sprott Increases Interest in Orefinders Canada NewsWire TORONTO, March 27, ...
About this update from Orecap Invest Corp
[{"type":"text","content":"\n\n\n\n\nEric Sprott Increases Interest in Orefinders\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 27, 2020\n\n\n\nTORONTO, March 27, 2020 /CNW/ - Orefinders Resources Inc. (\"Orefinders\" or the \"Company\") (TSX.V: ORX) is pleased to announce that it has closed its flow-through portion of its non-brokered private placement previously announced on February 4, 2020 for aggregate proceeds of $618,999.92 (the \"Offering\"). Upon closing of the Offering, the Company issued 8,842,856 units (the \"Flow Through Units\"), at a price of $0.07 per Flow Through Unit, where each Flow Through Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.08 for a period of 24 months from the date of issuance. \nIn accordance with applicable securities laws in Canada, the common shares and warrants issued as part of this Offering will be subject to a four month and one day hold period from the date of closing of the Offering.\nMr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired ownership 7,142,856 Units. Following the completion of the private placement, Mr. Sprott beneficially owns and controls 20,000,016 Common Shares and 10,000,008 Warrants of the Company representing approximately 11.89% of the issued and outstanding Common Shares of the Company on a non-diluted basis and approximately 16.84% of the issued and outstanding Common Shares on a partially diluted basis. Prior to the Financing, Mr. Sprott beneficially owned 12,857,160 Common Shares and 6,428,580 Warrants of the Company representing approximately 8.07% of the issued and outstanding Common Shares of the Company on a non-diluted basis and approximately 11.64% of the issued and outstanding Common Shares on a partially diluted basis.\nThe Units were acquired by Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Orefinders i...