Business
Origen Resources Makes Strategic Investment in Opawica Explorations Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce
About this update from Origen Resources Inc
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 8, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the \"Company\" or \"Origen\") is pleased to announce that it has made a strategic investment into Opawica Explorations Inc. (TSXV: OPW), a Canadian junior exploration company holding a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec and 39,000 ha in Newfoundland's new gold district. \"We are pleased and excited to have made a strategic investment in an active and emerging gold district highlighted by the recent success of New Found Gold. This investment compliments the Company's project generation business model by providing it access to additional opportunities throughout the district,\" states Gary Schellenberg, Company President. About Opawica Opawica currently holds a 100% interest in six projects totalling 39,000 ha in the Exploits subzone of Newfoundland. These assets host similar geological, geochemical, and structural settings similar to the adjacent Queensway discovery. The lack of modern exploration on the properties presents an opportunity for significant new discoveries in this emerging gold district. Opawica also holds two flagship high grade gold assets in Quebec, which are fully funded for a 10,000m drill program. The Transaction Origen has purchased 750,000 units @ $0.40 per unit with each unit comprising one common share and one half of one share purchase warrant with each full warrant being exercisable into a common share at a price of $0.60. The transaction is deemed to be a non-arm's length transaction as Blake Morgan, a Director of Origen is also an Officer and Director of Opawica. Other News The company has issued 200,000 warrants to a consultant of the issuer, in partial consideration of the services provided. The warrants are exercisable for a period of 2 years at 36 cents per share. About OrigenOrigen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium properties. The Company currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia, a 100% interest in the 26,771 ha LGM project and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of Brit...