RE:NewsThat's way under what they were looking for.... So the 1st closing announced in the December 23rd PR was finally the only amount they were able to cash in but not really surprised, that Company isn't attractive at all.... So what would they do with that tiny amount?? Exploration on the property?! Lolll
"The Company also announces that it intends to proceed with a non-brokered private placement of units (the "Private Placement") for a maximum amount of $1,500,000. Each unit is composed of one common share of Orex at a price of $0.05 and of one common share purchase warrant, at an exercise price of $0.75 per share, valid for a five-year period. The subscribed securities will be subject to a hold period of four months from the closing date. This private placement is subject to the final approval of the TSX Venture Exchange.
On December 23, 2015, Orex completed the first closing the Private Placement for an amount of $375,000. A total of 7,500,000 common shares and 7,500,000 warrants were subscribed. Directors and officers of the Company participated in the Private Placement for an amount of $197,000."
Read more at https://www.stockhouse.com/news/press-releases/2015/12/23/orex-exploration-inc-new-director-and-private-placement#0sjZYErJ4G6LeGEH.99