Orex Minerals Closes Non-Brokered Private Placement of $800,000 CAD
November 19, 2019
Orex Minerals Closes Non-Brokered Private Placement of $800,000 CAD
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
Vancouver, BC – Orex Minerals Inc. – (TSX.V: REX – OTCQB: ORMNF) (“ Orex” or the “ Company”), is
pleased to announce that the Company has completed a private placement financing (the “Offering”) to
raise gross proceeds of $800,000 from the sale of 8,000,000 units at a price of $0.10 per unit, with each
unit consisting of one common share and one-half of one warrant. Each whole warrant is exercisable for
one common share for a period of two years at a price of $0.15 per share. Certain insiders of the Company
participated in the Offering.
Orex intends to use the net proceeds of the Offering to maintain its 40% share of the Sandra-Escobar
Project in good standing and fund its 40% share of the upcoming work program , to make the necessary
payments under its existing option to acquire 100% of the Cordero Project and for general corporate and
working capital purposes.
All securities issued pursuant to the Offering will be subject to a four-month and one day hold period from
the date of closing of the Offering. The Company has 121,731,379 common shares issued and outstanding
after closing the Offering.
The issuance of units to insiders pursuant to the Offering is considered a related party transaction under
Multilateral Instrument 61 -101. The Company is relying on exemptions from the formal valuation and
minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral
Instrument 61-101 on the basis that participation in the Offering by insiders does not exceed 25% of the
Company's market capitalization.
The shares issued under the Offering have not been and will not be registered under the U.S. Securities
Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States
or to U.S. Persons absent registration or an applicable exemption from registration. This press release is
not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale
of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. is a mineral exploration company focused on precious and base metals exploration in
Mexico and Canada. Orex has several current projects: Three projects are located in Durango State,
Mexico, including the Coneto Silver-Gold Project as a joint venture with Fresnillo PLC, the Sandra Escobar
Silver Project with Pan American Silver Corp., and the San Luis del Cordero Silver-Copper-Zinc Project. The
Company’s fourth project is the Jumping Josephine Gold Project in British Columbia, Canada. Orex is under
the management provided by the experienced Belcarra Group Management Ltd. (“Belcarra Group”). The
Belcarra Group is comprised of highly qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
For further information, please contact Orex Minerals Inc. at (604) 687- 8566 x22 8, email
[email protected] or [email protected] or visit our website at www.orexminerals.com
This News Release may contain forward- looking statements including but not limited to use of proceeds
of the Offering , timing and content of upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processe s, 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.
For additional information on risks and uncertainties, see the Company’s most recently filed annual
management discussion and analysis (“MD&A”), which is available on SEDAR at www.sedar.com and on
the Company’s website at www.orexminerals.com. The risk factors identified in the MD&A are not
intended to represent a complete list of factors that could affect the Company.
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.