Vancouver, BC, January 12, 2021. Origen Resources Inc. (the “Company” or “Origen”) (CSE:ORGN) is pleased to announce that it has completed the second tranche of the previously announced non-brokered private placement of units (the “Offering”).
In the second tranche, the Company raised gross proceeds of $264,800 from the issuance of 2,206,666 units. Each unit is comprised of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share of the Company for a period of 12 months from the date of issue at an exercise price of $0.20.
With the close of the second tranche, the Company is pleased to report that the total aggregate amount raised was $724,540. The Company intends to use the net proceeds of the Offering to fund an airborne geophysical program on its Middle Ridge project in Newfoundland and for general corporate purposes.
The securities issued today as part of the second tranche of the Offering are subject to a four month hold period that will expire on May 13, 2021.
The Company successfully completed the listing process and commenced trading on the Frankfurt Exchange on January 7, 2021 under the trading symbol 4VX.
Origen is an exploration company engaged in generating, acquiring and advancing base and precious metal properties. The Company currently holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia, a 100% interest in the 26,771 ha LGM project and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British Columbia and a 100% interest in the Middle Ridge project in Newfoundland.
On behalf of Origen,
For further information, please contact Blake Morgan, President at 236-878-4938 or Gary Schellenberg, CEO at 604-681-0221.