Orex Minerals Inc.
Orex Minerals Inc. Orex Minerals Inc.
Orex Minerals Inc. News


RSS RSS Feed
Orex Minerals Inc. Orex Minerals Inc.
Orex Minerals Inc.
 
09-Oct-09

Orex Announces Non Brokered Private Placement Of Units

**NOT FOR DISSEMINATION IN THE UNITED STATES**


Vancouver, British Columbia

Orex Minerals Inc. ("Orex" or the "Company") - REX: TSX-V. Orex is pleased to report that it has arranged a non brokered private placement (the "Private Placement") of up to 30,000,000 units at a price of $0.10 per unit (each a "Unit") for total gross proceeds of up to $3,000,000. Each Unit will consist of one common share (each a "Share") and one half of a non transferable share purchase warrant (each a "Warrant"). Each whole Warrant will be exercisable into one additional Share of the Company at a price of $0.15 per Share for a period of two years from the date of closing of the Private Placement.

In addition, the Company may issue finder's units (the "Finder's Units") representing 7.5% of the total proceeds of the Private Placement as finder's fees. Each Finder's Unit will consist of one Share and one half of a non transferable share purchase warrant (each a "Finder's Warrant"). Each whole Finder's Warrant will be exercisable into one additional Share of the Company at a price of $0.15 per Share for a period of two years from the date of closing of the Private Placement.

All securities issued under the Private Placement will be subject to a four month hold period.

The proceeds of the Private Placement will be used for working capital purposes and for due diligence on potential acquisitions. The Private Placement will be subject to TSX Venture Exchange approval.


ON BEHALF OF THE BOARD OF DIRECTORS


Gary Cope, President and Chief Executive Officer
Orex Minerals Inc.

About Orex Minerals Inc.


Orex Minerals Inc. is a junior mineral exploration company comprised of highly qualified mining professionals with a focus on the exploration of prospective gold and gold-silver properties in Mexico.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The TSX Venture Exchange has not reviewed and does not accept responsibility for this News Release. 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. Orex relies upon litigation protection for forward-looking statements.

"Neither the 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."

For further information, contact Orex Minerals Inc. at (604) 687-6310 or
Via email at info@orexminerals.com or visit our website on line at www.orexminerals.com
 
 

You can view the Next News item: Wed Oct 14, 2009, Orex Closes Non-Brokered Private Placement

You can view the Previous News item: Mon Aug 31, 2009, Geological Work Commences on Coneto Silver-Gold Project in Mexico

You can return to the main News page, or press the Back button on your browser.

Orex Minerals Inc.