Business
OREX MINERALS INC. ANNOUNCES SALE OF CONETO SILVER-GOLD PROJECT TO SILVER VIPER MINERALS CORP.
OREX MINERALS INC. ANNOUNCES SALE OF CONETO SILVER-GOLD PROJECT TO SILVER VIPER MINERALS CORP. ...
About this update from Orex Minerals Inc.
[{"type":"text","content":"\n\n\nOREX MINERALS INC. ANNOUNCES SALE OF CONETO SILVER-GOLD PROJECT TO SILVER VIPER MINERALS CORP.\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\nCanada NewsWire\n\n\nVANCOUVER, BC, March 16, 2026 /CNW/ - Orex Minerals Inc. (TSXV: REX) (\"Orex\" or the \"Company\") is pleased to announce that it has entered into a definitive share purchase agreement dated March 13, 2026 with Silver Viper Minerals Corp. (\"Silver Viper\" or \"VIPR\") and Fresnillo plc (\"Fresnillo\") in connection with the previously announced (October 28, 2025) sale of the Coneto Silver-Gold Project (\"Coneto\" or the \"Project\") located in Durango (the \"Transaction\").\n\n\n\n\n\n\n\nUnder the terms of the agreement, Silver Viper will acquire the Vendors' (Orex Minerals Inc., and Fresnillo plc) combined interests in the Coneto Project -- 61.21% held by Fresnillo and 38.79% held by Orex -- representing all of the outstanding shares of the corporate joint venture that currently holds the Coneto Project. The transaction will be completed through an all-share consideration valued at US$15 million (C$20,425,500) through the issuance by Silver Viper of an aggregate of 25,531,875 common shares (the \"VIPR Shares\") to the Vendors at a deemed price of C$0.80 per share.Upon closing of the Transaction, Orex will receive its pro-rata portion of the VIPR Shares in exchange for its 38.79% interest in the Coneto Project. All VIPR Shares issued on closing will be subject to a statutory four-month hold period in accordance with applicable Canadian securities laws.Closing of the Transaction is expected to occur promptly and remains subject to customary conditions, including receipt of approval from the TSX Venture Exchange (\"TSXV\") and the absence of any material adverse changes prior to closing.John Eren, Chief Executive Officer of Orex, commented:\"The sale of our interest in the Coneto Project to Silver Viper Minerals Corp. represents an important step in unlocking value for Orex shareholders. By receiving equity in Silver Viper, Orex maintains meaningful exposure to the continued advancement and exploration p...