Origin Gold Announces Closing of Private Placement
MONTREAL, Oct. 10, 2019 - Origin Gold Corp. ("Origin or the “Corporation") (TSX VENTURE: OIC) is pleased to announce that it has closed a non-brokered private placement (the “Placement”) with an accredited investor, by issuing a total of 800,000 units of Origin (the “Units”) at $0.10 per Unit, for total gross proceeds of $80,000.
The Corporation plans to use the net proceeds from the Placement to explore potential mineral properties opportunities and for general working capital.
Each Unit consists of one common share (a “Common Share”) and one-half of a common share purchase warrant (a “Warrant”) of Origin. Each Warrant entitles the holder to purchase one Common Share at a price of $0.15 during a two-year period following the issuance of the Warrant. No commissions are payable on this Placement.
The securities issued pursuant to the Placement on the date hereof are subject to a four-month hold period under applicable securities laws in Canada expiring on February 11, 2020.
The Placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.
About Origin
Origin is a mineral exploration company with its exploration activities focused in Colombia.
Rejean Gosselin, President and CEO : Tel: 514.303.0950
E-mail: rgminero@gmail.com
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Origin deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.