Orefinders Closes $5.5 Million Private Placement

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[{"type":"text","content":"OrefindersPvtPlacemen\n \n \n \n Orefinders Closes $5.5 Million Private Placement\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Sept. 30, 2020\n \n \n \n \n \n \n \n \n \n \n /NOT FOR DISSEMINATION, DISTRIBUTION, RELEASE, OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n \n \n \n \n \n TORONTO\n \n ,\n \n Sept. 30, 2020\n \n /CNW/ - Orefinders Resources Inc. (\"\n \n Orefinders\n \n \" or the \"\n \n Company\n \n \") (TSXV: ORX) is pleased to announce the closing of its previously announced brokered private placement consisting of the sale of units (the \"\n \n Units\n \n \"), flow-through units (the \"\n \n FT Units\n \n \") and charity flow-through units of the Company (the \"\n \n Charity FT Units\n \n \", and collectively with the Units and FT Units, the \"\n \n Offered Securities\n \n \") (the \"\n \n Brokered Offering\n \n \"), for aggregate gross proceeds of\n \n $5,312,500\n \n . The Brokered Offering was announced on\n \n August 31, 2020\n \n and subsequently amended on\n \n September 9, 2020\n \n to accommodate additional demand.\n \n \n Echelon Wealth Partners Inc. (\"\n \n Echelon\n \n \") acted as the sole agent in connection with the Brokered Offering, which consisted of the sale of:\n \n \n \n \n 21,125,000 Units at a price of\n \n $0.10\n \n per Unit, with each Unit consisting of consisting of one common share of the Company (a \"\n \n Unit Share\n \n \") and one-half of one common share purchase warrant (each whole warrant a \"\n \n Warrant\n \n \"), with each Warrant entitling the holder thereof to acquire one common share of the Company at a price\n \n $0.15\n \n for a period of two years following the closing of the Offering (the \"\n \n Closing\n \n \");\n \n \n 15,000,000 FT Units at a price of\n \n $0.12\n \n per FT Unit, with each FT Unit consisting of one common share of the Company (a \"\n \n FT\n \n \n Unit Share\n \n \") and one-half of one common share purchase warrant (each whole w...

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