OREX CLOSES 3,856,000 UNIT NON-BROKERED PRIVATE PLACEMENT
Orex Minerals Inc. ("Orex" or the
"Company") (TSX.V: REX) announces that it has closed its non-brokered private placement of units for
aggregate gross proceeds of $1,928,000. The private placement consisted of 3,856,000 units at a price of
$0.50 per unit, with each unit consisting of one common share and one half share purchase warrant. Each
whole warrant is exercisable for one common share at a price of $0.75 for a period of two years from
closing of the private placement. The total number of shares of Orex outstanding after the closing of
the private placement is 36,448,415. The Company paid a finder’s fee of 7.0 %, which was composed of
205,100 units, and $5,250 in cash, in accordance with the policies of the TSX Venture Exchange. All
securities issued under the private placement are subject to a hold period under securities law of four
months and a day from the date of the closing of the private placement.
Orex intends to use the net
proceeds of the private placement to advance exploration of the Barsele mineral property in Sweden and
also for general working capital.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
About Orex Minerals Inc.
Orex Minerals Inc. is a junior mineral exploration company
comprised of highly qualified mining professionals with a focus on the exploration of prospective gold
and gold-silver properties in Mexico and Sweden.
Suite 1180 – 999 West Hastings Street, Vancouver,
BC, Canada V6C 2W2
Phone: 604.687.6310 Fax: 604.687.6365 Email: email@example.com
The units, common shares and warrants have not been and will not be registered
under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from registration. This press release is not an offer or
a solicitation of an offer of securities for sale in the United States, nor will there be any sale of
the securities in any jurisdiction in which such offer, solicitation or sale would be
This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Orex relies upon litigation protection for forward-looking statements.
Neither the 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.