TORONTO, Dec. 29, 2017 /CNW/ - Orefinders Resources Inc.
("Orefinders" or the "Company") (TSX.V: ORX) is pleased to announce
it has received a subscription for a non-brokered flow through
private placement of 1,500,000 units, at a price of $0.10 per unit, to raise proceeds of $150,000. Each unit consists of one common
share and one-half of one share purchase warrant, each whole
warrant entitling the holder to purchase one additional common
share, at $0.12 per share, until
December 29, 2019. Additionally, the
Company has received subscriptions for a non-brokered hard dollar
private placement of 2,477,125 units, at a price of $0.08 per unit, to raise proceeds of $198,170. Each unit consists of one common
share and one-half of one share purchase warrant, each whole
warrant entitling the holder to purchase one additional common
share, at $0.12 per share, until
December 29, 2019. Total aggregate
private placement proceeds are $348,170. In connection with the flow-through
private placement, the Company paid a finder's fee of $10,500 and issued a finder's warrant entitling
the finder to acquire 105,000 shares at $0.12 per share until December 29, 2019. The proceeds from the private
placement will be used for working capital purposes and for the
advancement of the Mirado and Shining Tree Projects. All the
shares, warrants and any shares issued upon exercise of the
warrants comprising the units are subject to a hold period until
April 28, 2018, except as permitted
by applicable Canadian securities laws and the TSX Venture
Exchange.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Certain information in this press release
may contain forward-looking statements. This information is based
on current expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Orefinders' assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Orefinders. Additional information identifying risks
and uncertainties is contained in filings by Orefinders with
Canadian securities regulators, which filings are available under
Orefinders' profile at www.sedar.com.
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SOURCE Orefinders Resources Inc.