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OREX MINERALS ANNOUNCES $1 MILLION PRIVATE PLACEMENT
OREX MINERALS ANNOUNCES $1 MILLION PRIVATE PLACEMENT Canada NewsWire /NOT FOR...
About this update from Orex Minerals Inc.
[{"type":"text","content":"\n \n \n \n OREX MINERALS ANNOUNCES $1 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 \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 28, 2023\n \n \n /CNW/ -\n \n Orex Minerals Inc.\n \n (TSXV: REX) (OTCQB: ORMNF) (\"\n \n Orex\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that the Company intends to undertake a non-brokered private placement financing (the \"\n \n Offering\n \n \") to raise gross proceeds of up to\n \n $1,000,000\n \n from the sale of up to 6,666,667 units (\"\n \n Units\n \n \") at a price of\n \n $0.15\n \n per Unit, each Unit consisting of one common share of the Company (each, a \"\n \n Share\n \n \") and one warrant (each, a \"\n \n Warrant\n \n \"). Each Warrant will entitle the holder thereof to acquire one Share from the Company at a price of\n \n $0.25\n \n per Share for a period of 24 months from their date of issue.\n \n \n The Company intends to use the net proceeds from the Offering for exploring its new Valenciana Project in Zacatecas State and for general working capital purposes. Drill targets have been identified on the main Valenciana structure, and a Phase-I diamond drilling program of 2000 to 3000 metres is proposed to test the down plunge projection of the mineralized shoots. In addition, some geophysics to aid in delineating the higher temperature flow zones for this epithermal style of silver and gold mineralization are planned.\n \n \n The Offering is anticipated to close on or about\n \n December 7, 2023\n \n . The closing of the Offering is subject to certain conditions, including the approval of the TSX Venture Exchange and certain other conditions customary for a private placement of this nature. All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period from their respective date of issue.\n \n \n The Company may pay a finder'...