Orex Closes Final Tranche of $4.6 MM Private Placement
Orex Minerals Inc. is pleased to announce that it has closed the final tranche of its private placement announced on February 27, 2014, issuing 10,000,000 units of the Company at a price of $0.25 per Unit for aggregate gross proceeds of $2,500,000. Each Unit consists of one common share and one half of a common share purchase warrant. Each whole warrant will be exercisable for one common share of the Company at $0.30 for a period of 24 months from closing, expiring March 25, 2016. The shares sold in the final tranche of the placement and warrants comprising the Units and any shares issued upon the exercise of the warrants are subject to a hold period which expires on July 26, 2014.