TORONTO , June 3, 2019 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (ORX.V) is pleased to announce the commencement of an up to $500,000 non-brokered financing. The net proceeds of this financing will be used for exploration and for a recompilation of Orefinders' Knight Project's 31,900 metres of drill core as well as for general working capital. The terms of the financing are as follows:
- Hard Dollar Units are 5 cents and include a common share plus one half warrant exercisable at 8 cents for 2 years.
- Flow Through Units are 6 cents and include a common share plus one half warrant exercisable at 10 cents for 2 years.
Any accredited investors interested in participating in this private placement should contact Stephen Stewart whose email and phone information is listed on this news release.
Completion of the financing remains subject to the approval of the TSX Venture Exchange. The financing may include any combination of Hard Dollar Units and Flow Through Units. All securities issued pursuant to the Financing will be subject to a statutory four month and one day hold period. Subscription agreements are available upon request. The financing is only available to accredited investors.
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused exclusively within the Abitibi Greenstone Belt. The Company is listed on the Toronto Venture Exchange under the symbol ORX.
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.
SOURCE Orefinders Resources Inc.
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