Orex's President Increases Ownership in Orex Minerals Inc.
30.01.2014 | Marketwire
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATESVANCOUVER, BRITISH COLUMBIA -- (Marketwired - Jan. 29, 2014) - Orex Minerals Inc. (TSX VENTURE:REX) ("Orex") President of Orex, Gary Cope, of Suite 1130, 1055 W Hastings Street, Vancouver BC, announces that he has beneficial ownership of, and control and discretion over, directly or indirectly through 683192 B.C. Ltd., 9,975,000 common shares, or approximately 13.92% of the issued and outstanding common shares of Orex. If Mr. Cope exercises all of the 2,098,400 warrants owned, and the 1,090,000 options owned, he will have beneficial ownership of, and control and discretion over, directly or indirectly, 13,163,400 common shares (or 17.58%) in the capital of Orex.
On November 21, 2013, 683192 B.C. Ltd. purchased 4,000,000 units in a non-brokered private placement of Orex at a cost of $1,000,000 CAD. 683192 B.C. Ltd. relied on the accredited investor exemption from securities legislation to purchase the units. Orex trades on the TSX Venture Exchange.
Mr. Cope acquired beneficial ownership of, and control or discretion over, the common shares and warrants that are the subject of this report for investment purposes and intends to review his investment in Orex on a continuing basis. Mr. Cope may, depending on market and other conditions, increase his beneficial ownership of securities in Orex.
For further information, or to obtain a copy of the subject early warning report filed by Gary Cope in accordance with applicable Canadian securities laws, please contact Orex at 604-687-8566.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX VENTURE:REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: its flagship property, the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Persistence Gold-Copper Project and Jumping Josephine Gold-Silver Project in British Columbia, and the Coneto Gold- Silver Project in Durango, Mexico, which is currently under option to Fresnillo PLC.
FORWARD-LOOKING INFORMATION
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 and Orex undertakes no obligation to update such statements, except as required by law.
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.
CONTACT INFORMATION
Orex Minerals Inc.
(604) 687-8566
info@orexminerals.com
www.orexminerals.com