VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 18, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Orex Minerals Inc., (TSX VENTURE:REX), ("Orex") announces that it has completed the non-brokered private placement described in its news release of September 10, 2013, issuing a total of 8,228,600 units at a price of 25 cents per unit for total gross proceeds of $2,057,150. 5,547,900 of the units sold were flow-through units.
Each unit consists of one common share of Orex and one-half of a share purchase warrant. Each whole warrant is exercisable into one common share at a price of 30 cents per share until September 13, 2015. The units were issued pursuant to exemptions from prospectus requirements of applicable securities legislation. All securities issued in the offering are subject to a hold period expiring January 14, 2014.
A cash fee in the amount of $4,900 was paid to Canaccord Genuity Corp. and $64,750 to M Partners Inc. in connection with the sale of a portion of the units. Certain directors and officers of Orex participated in the placement.
Orex intends to use the net proceeds of the placements to finance exploration expenditures and for general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX VENTURE:REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: its flagship property, the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Persistence Gold-Copper Project and Jumping Josephine Gold-Silver Project in British Columbia, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently under option to Fresnillo PLC.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Orex undertakes no obligation to update such statements, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.