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Friday, June 17, 2022 6:11:38 PM
Orea Closes First Tranche of Private Placement
June 17, 2022
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Vancouver, BC, Canada, June 17, 2022, Orea Mining Corp. (“Orea”) (OREA: TSX) (OREAF: OTCQX) (3CG: FSE) is pleased to announce that it has closed the first tranche of its previously announced private placement (the “First Tranche”) (see news release dated June 13, 2022), raising gross proceeds of CAD$215,000 through the issuance of 4,300,000 units of Orea (each a “Unit”) at a price of CAD$0.05 per Unit. Each Unit is comprised of one common share of Orea (a “Share”) and a full warrant. Each warrant entitles the holder, on exercise, to purchase one Share at a price of CAD$0.10 for a period of 18 months from the closing date of the First Tranche. One insider of Orea participated in the First Tranche. A total of CAD$12,000 is being paid as finders’ fees in connection with the First Tranche.
The proceeds from the First Tranche will be used primarily to fund an action plan, that Orea management and its advisors have initiated, in response to the sanctions imposed by the United States on Nord Gold plc (“Nordgold”), Orea’s joint-venture partner (see press release of June 7, 2022).
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
ON BEHALF OF THE BOARD:
Rock Lefrançois
President & CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1 888-818-1364
ir@oreamining.com
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