Bullboard - Stock Discussion Forum Orex Exploration Inc. V.OX

Metals & Mining Gold

"Orex Exploration Inc is engaged in the exploration of gold mining sites located in Nova Scotia, Canada. The Company owns goldboro project in Guysborough County, Nova Scotia."

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Orex Exploration Inc. > This is what irks me about the Venture Exchange

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Post by Raptor7 on Jan 02, 2017 1:13pm

This is what irks me about the Venture Exchange

This is the stuff that irks me about the Venture. First this press release from Oct 11, 2016...

FINAL CLOSING OF PRIVATE PLACEMENT OF UNITS AND GRANT OF STOCK OPTIONS...

Orex Exploration Inc. has successfully completed the $1.5-million non-brokered private placement...

"We are delighted to have completed the private placement, thus allowing us to dedicate our management and financial resources to the timely advancement of the Goldboro project. These moneys ought to be sufficient to ensure that the Goldboro project is shovel ready in the next 12 to 15 months. Mining is an uncertain business; however, the board and the management team is committed to bringing this valuable project into production and rewarding our shareholders for their ongoing support," said Robert Schafer, chairman and interim chief executive officer."

And then just before Christmas with insiders having gorged on newly minted stock options and 1.6 million of these private placement shares...

ESTABLISHMENT OF SPECIAL COMMITTEE OF BOARD OF DIRECTORS

"The board recognizes that the inherent value of the Goldboro project is not adequately reflected in the company's stock price. Accordingly, the board has appointed the special committee to review all financial and strategic alternatives in order to better reflect that value. The special committee will review and consider any opportunity that will bring long-term value to our shareholders. Our shareholders deserve to be rewarded for their commitment and perseverance," said Mr. Fitzgerald.

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