Orford announces financing of up to $2.4 million
|NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES | TORONTO , July 18, 2022 |CNW| - Orford Mining Corp. ("Orford" or the "Company") (TSXV: ORM ) is pleased to announce a non-brokered private placement of up to 15,238,095 million flow-through share units at an issue price of C$0.1575 per share to raise gross proceeds of up to $2,400,000 from the sale of flow-through units. Each flow through unit will consist of one common share and one-half of a common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share of the Company for a period of two years at an exercise price of $0.13 . Alamos Gold (AGI-TSX) has confirmed its intention to indirectly participate in the financing through the purchase of non-flow through units from a third-party to increase its holding to approximately 25% of Orford''s outstanding common shares (or 29% on a partially diluted basis assuming the exercise of warrants currently held and those acquired as part of this financing).
Orford announces financing of up to $2.4 million
|NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES | TORONTO , July 18, 2022 |CNW| - Orford Mining Corp. ("Orford" or the "Company") (TSXV: ORM ) is pleased to announce a non-brokered private placement of up to 15,238,095 million flow-through share units at an issue price of C$0.1575 per share to raise gross proceeds of up to $2,400,000 from the sale of flow-through units. Each flow through unit will consist of one common share and one-half of a common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share of the Company for a period of two years at an exercise price of $0.13 . Alamos Gold (AGI-TSX) has confirmed its intention to indirectly participate in the financing through the purchase of non-flow through units from a third-party to increase its holding to approximately 25% of Orford''s outstanding common shares (or 29% on a partially diluted basis assuming the exercise of warrants currently held and those acquired as part of this financing).