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OREX MINERALS INC. PROVIDES UPDATE ON THE SALE OF ITS OWNERSHIP INTEREST IN THE CONETO SILVER-GOLD PROJECT
OREX MINERALS INC. PROVIDES UPDATE ON THE SALE OF ITS OWNERSHIP INTEREST IN THE CONETO SILVER-GOL...
About this update from Orex Minerals Inc.
[{"type":"text","content":"\n\n\nOREX MINERALS INC. PROVIDES UPDATE ON THE SALE OF ITS OWNERSHIP INTEREST IN THE CONETO SILVER-GOLD PROJECT\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\nCanada NewsWire\n\n\nVANCOUVER, BC, Feb. 5, 2026 /CNW/ - Orex Minerals Inc. (TSXV: REX) (OTCQB: ORMNF) (\"Orex\" or the \"Company\") is pleased to provide an update on the previously announced binding term sheet with Silver Viper Minerals Inc. (\"Silver Viper\") and Fresnillo plc (\"Fresnillo\") to sell its ownership interest in the Coneto Silver-Gold Project (the \"Transaction\").\n\n\n\n\n\n\n\nOrex, Fresnillo and Silver Viper remain committed to completing the Transaction and continue to make steady progress toward executing a definitive share purchase agreement (the \"SPA\") and subsequent closing. While the initial target date of January 2026, for entering into the SPA was not met, work is advancing on the final steps necessary to execute the SPA and complete the Transaction. The parties continue to collaborate on finalizing the SPA, securing the required approvals and satisfying closing conditions, and Orex expects to consummate the Transaction.\nOther than the form of consideration to be received by Orex, there have been no material changes to the terms of the Transaction as previously announced. Orex will now receive consideration comprised of a combination of cash and common shares of Silver Viper, with the aggregate amounts to be determined and finalized in the SPA.\nThe principal terms of the Transaction, consistent with prior disclosure and as currently contemplated, are as follows:\nOrex ownership sold: 38.79%.Fresnillo ownership sold: 61.21%.Consideration: Consideration payable to Orex will now consist of a combination of cash and common shares of Silver Viper, with the final allocation to be determined, and consideration payable to Fresnillo will consist solely of common shares of Silver Viper, at a deemed price of CAD$0.80 per share.Valuation: The transaction values the Coneto Silver-Gold Pr...