Business
Orefinders Plans to Update TSXV Listing Status to a Mining & Investment Issuer
Toronto, Ontario--(Newsfile Corp. - March 24, 2023) - Orefinder's Resources Inc. ‎(TSXV: O...
About this update from Orecap Invest Corp
[{"type":"text","content":"Orefinders Plans to Update TSXV Listing Status to a Mining & Investment IssuerToronto, Ontario--(Newsfile Corp. - March 24, 2023) - Orefinder's Resources Inc. ‎(TSXV: ORX) (\"Orefinders\" or the \"Company\") is pleased to announce that it will be seeking shareholder approval for the updating of its listing status from a mining issuer to both an investment and mining issuer pursuant to the policies of the TSX Venture Exchange (the \"Exchange\"). This update aims to increase the Company's flexibility and optionality to make strategic investments and incubate new opportunities focused on gold and other critical metals. Orefinders' exploration strategy and core portfolio of assets remain unchanged. This updated listing status allows management to transact corporately as the Company has in the past with the spin offs of QC Copper and Gold Inc., American Eagle Gold Corp., and its activist investment Mistango River Resources Inc. With this new listing status, Orefinders may undertake corporate transactions, acquire strategic equity positions, or incubate new junior companies as opportunities arise. \"We are pleased to provide this update and formalize Orefinders ability to continue to invest aggressively with the drill but also creatively at the corporate level. Our team has a track record of making accretive transactions aimed at improving our balance sheet, lowering our cost, and increasing our capital availability. These corporate-type transactions are then reallocated into investments via the drill bit for discovery and delineation of gold and metals of interest,\" said Stephen Stewart, Orefinders' CEO. Webinar – Upgrading to a Mining and Investment IssuerThe Company's current investment portfolio includes:‎5,200,000 common shares in the capital of American Eagle Gold Corp. (TSXV: AE), representing 6.5% of the issued and outstanding ‎shares of American Eagle Gold Corp.; 24,708,975 common shares in the capital of Mistango River Resources (CSE: MIS), representing 16% of the issued and outstanding ‎shares of Mistango River Resources; and,‎5,059,752 common shares in the capital of QC Copper and Gold Inc. (TSXV: QCCU), representing 3.5% of the issued and outstanding shares of QC Copper and Gold Inc.‎In addition to the above investments, following the Proposed Change of Business, the Compa...