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TorontoAnd 28 July 2021 /CNW/ – Orford Mining Corp. (“Orford” or the “Company”) (TSX VENTURE: ORM) is pleased to report that the previously announced non-intermediate private placement in a dated press release July 15 2021 for $1,500,000 Zoomed in to $1,920,000 due to investor demand. The non-intermediate private placement consists of: (i) streaming units (approximately 700,000 units) at an issue price of CAD 0.27 per unit, and (ii) fixed dollar units (approximately 8.7 million units) at an issue price of CAD 0.20 Canadian dollars All alone. (the “an offerOrford expects whole returns of up to $1,920,000 From the sale of Stream Units, Fixed Dollar Units, or any combination thereof. Each flow unit will consist of one common share issued and one and half of a common share purchase order, each on a flow basis. Each unit of US dollars will consist of one common stock and half a common stock purchase order. Each order to purchase a packed common stock will entitle the holder to purchase one common stock of the company for a period of three years at an exercise price of 0.31 USD. Alamos Gold (AGI-TSX) has confirmed that it will participate in the financing at a pro-rata level of 23.87%.
Orford intends to use the proceeds from the offer to explore exploration properties, including those of Qiqavik, McClure East and Joutel Omega in the North Quebec For general corporate purposes. The Qiqavik project represents a unused gold discovery in the Cape Smith Belt in northern Quebec. McClure East and Joutel Omega properties in the Joutel region of the Abitibi green stone belt in the north Quebec.
Offer is expected to close on or prior August 12, 2021may close in batches prior to that date, subject to approval by TSX Venture Exchange. Securities issued under the Offering will be subject to a holding period of four months in addition to one day from the closing date.
Alamos purchases shares for investment purposes, which will be valued and increased or decreased from time to time at Alamos’s discretion. A copy of the Alamos Early Warning Report will be available on SEDAR at https://www.sedar.com or can be requested by calling Scott Parsons, Vice President, Investor Relations, at SParsons@alamosgold.com, 416-368-9932 (ext. 5439) or by mail at Brookfield Place, 181 Bay Street, Suite 3910, Toronto, Ontario M5J 2T3.
About Orford Mining Corporation
Orford Mining is a gold explorer focused on the highly prospective and undiscovered areas of the North Quebec.
Orford Origins in North Nunavik Quebec The Qiqavik and West Raglan projects that comprise a land package totaling more than 105,000 hectares include the Cape Smith Belt in the north Quebec. The Qiqavik project hosts several unused lofty-quality gold discoveries along a mineralization trend of more than 40 km. The West Raglan project hosts a number of lofty quality Raglan nickel/copper/platinum array-style mineral finds along the 55 km metallic direction. in a January 2021And Orford entered into a gain agreement whereby Wyloo Metals could earn up to 80% of the West Raglan project for whole expenses $25.0 million More than 7 years.
in 2020, Orford Acquired three unused real estate sites (more than 20,000 hectares) in the Götel district of North Abitibi districtيبي Quebec, which hosts historical deposits such as Eagle/Telbel and Joutel Copper, Copper Poirier, Vezza deposits. This information from adjacent properties does not necessarily indicate mineralization in Orford Mining properties.
Orford Constantly looking for unused opportunities to prospect for gold in North America.
Orford The TSX Venture Exchange’s common stock is traded under the symbol ORME.
To view more details about Orford Exploration projects please visit Orford Website www.orfordmining.com.
Cautionary statement regarding forward-looking statements
Neither the TSXV nor the Regulatory Services Provider (as this term is defined in the TSXV Policies) accepts responsibility for the adequacy or accuracy of this version.
This press release contains “forward-looking information” including but not limited to statements regarding the proposed offering, liquidity and capital resources of Orford and the capabilities of one or more of the Orford mineral properties;
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements Orford be materially distinct from any coming results, performance or achievements expressed or implied by the forward-looking statements. Factors that can influence the result include, among others: the demand for the offering, coming prices and the supply of minerals. Excavation results inability to hoist funds to incur expenses required to maintain and develop the property; Environmental responsibilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labor disputes and other risks for the mining industry; political instability, terrorism, insurrection, or war; or delays in obtaining government approvals, and failure to obtain regulatory approvals or shareholder approvals. For a more detailed discussion of these risks and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, please refer to Orford Deposits with Canadian Securities Regulators are available on SEDAR at www.sedar.com.
although Orford Try to identify significant factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, as there may be other factors that cause actions, events or results to differ from those expected, estimated or intended. The forward-looking statements contained in this document are made as of the date of this press release and Orford It disclaims any obligation to update any forward-looking statements, whether as a result of unused information, coming events, results, or otherwise, except as required by applicable securities laws.
Neither TSXV nor the Regulatory Services Provider (as defined in the TSXV Policies) accept responsibility for the adequacy or accuracy of this news release.
SOURCE Orford Mining Corporation
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