Orex Exploration Inc.
TSX VENTURE : OX
FRANKFURT : O5D

Orex Exploration Inc.

April 06, 2016 16:25 ET

Orex Exploration Inc.: Corporate Update Following the Annual Meeting of Shareholders and Grant of Stock Options

ROUYN-NORANDA, QUEBEC--(Marketwired - April 6, 2016) - OREX EXPLORATION INC. ("Orex" or the "Corporation") (TSX VENTURE:OX)(FRANKFURT:O5D) held its annual general meeting of shareholders this morning. At this meeting, the shareholders approved the proposed slate of directors, who are Marcel Faucher, Jacques Levesque, Claude Poulin and Jean-Pierre Landry.

Raymond Chabot Grant Thornton, Chartered Professional Accountants of Rouyn-Noranda, were re-appointed auditors of Orex for the financial year ending on June 30, 2016.

Following the Board of directors meeting which followed immediately the annual meeting of shareholders.

  • Marcel Faucher was named President and Chief Executive Officer (CEO), Jacques Levesque, Chief Financial Officer (CFO) and Julie Godard, Secretary.
  • Claude Poulin, Jacques Levesque and Jean-Pierre Landry were appointed as members of the Audit Committee.

Also, the Board of directors granted a total of 11,500,000 stock options to the directors, officers, consultants and employees of Orex, of which 10,500,000 options to the directors and officers. Each option enables its holder to acquire one common share of Orex at a price of $0.05 for a period of five years, expiring on April 6, 2021.

The Corporation's stock option plan allows the issuance of a maximum of 14,000,000 common shares upon the exercise of stock options. Before the grant of these new stock options, only 200,000 options were outstanding in favor of a former director, at a price of $0.10, expiring on October 30, 2016.

Neither the TSX Venture Exchange nor its regulation service provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information