News!!! Orex Exploration $300,000 Financing
Orex Exploration arranges $300,000 financing
2005-08-25 09:19 ET - News Release
Mr. Jacques Levesque reports
PRIVATE PLACEMENT OF $300,000
Orex Exploration Inc. has completed a private financing of $300,000 with a small group of shareholders. The company will issue 2,068,966 common shares pursuant to this financing and no warrants were offered. The certificates representing these shares will bear a legend indicating the hold period of four months following the closing of the placement. A commission of 10 per cent of the gross proceeds is payable to an intermediary. The net proceeds of the placement will be used for the company's working capital and for the phase I of the 2005 exploration program on the Goldboro property.