Orex Exploration Inc. V.OX

News

[110158]

2016-03-01 18:30 ET - Private Placement

 

The TSX Venture Exchange has accepted for filing the documentation with respect to a non-brokered private placement.

 

Number of shares:  7.5 million common shares 

Purchase price:  five cents per common share 

Warrants:  7.5 million warrants to purchase 7.5 million common shares

Warrants exercise price:  7.5 cents during the 60-month period following the closing of the private placement

Number of placees:  11 placees

Insiders:  Marcel Faucher, 1.44 million; 2541-8203Quebec Inc. (Jacques Levesque), 1.5 million; Jean-Pierre Landry, one million

 

The company has confirmed the closing of the above-mentioned private placement by way of news releases dated Dec. 23, 2015.

© 2016 Canjex Publishing Ltd. All rights res

[lingots27]

Private pp in $ 7500000 shares @ 0.05$ =375000$ insiders 3940000 shares@ 0.05$=197000$=53% of pp other placees 3560000 Shares@0.05$=178000$=47% of pp Jacques Levesque 1500000 shares @0,05=75000$ Jean-Pierre Landry 1000000 shares@0.05=50000$ Marcel Faucher 1440000 shares@0.05=72000$

[just28]

That'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

[scanner18]

like most juniors in this new world finding money is expensive and tough.....seems the only mining going on is the mining of speculators