OCIM Finance Announces Filing of Early Warning Report
PARIS, March 3, 2021 - OCIM Finance ("OCIM") today announced that it has filed an early warning report in connection with the disposition of common shares (the "Shares") in the capital of Orea Mining Corp. ("Orea"). Between February 9, 2021 and March 2, 2021, OCIM disposed of an aggregate of 4,496,500 Shares through the facilities of the Toronto Stock Exchange at an average price of C$0.123 per Share for a total consideration of C$553,003 (the "Transaction"). Prior to the Transaction, OCIM held 17,931,500 Shares and 7,812,500 warrants representing approximately 8.76% of the then issued and outstanding Shares on a non-diluted basis and 12.11% on a partially diluted basis, assuming the exercise of the warrants held by OCIM. Following the completion of these Transaction, OCIM has decreased its holdings in Orea by 2.20%. Following the Transaction, OCIM beneficially owns and exercises control over 13,435,000 Shares and 7,812,500 warrants, which represents approximately 6.56% of the Shares on a non-diluted basis and 9.998% of the Shares on a partially diluted basis, assuming the exercise of the warrants held by OCIM.
The Shares were sold for investment purposes. OCIM will evaluate its investment in Orea from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its holdings as circumstances require pursuant market transactions, private agreements, or otherwise, in each case in accordance with applicable securities laws.
This press release is being issued in pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report relating to these transactions will be filed on the System for Electronic Document Analysis and Review (SEDAR) under Orea's profile and can be viewed at www.sedar.com. A copy of such report may be obtained by contacting Julien Serra at OCIM at email@ocim.eu. OCIM's office is located at 30 avenue Franklin Roosevelt, Paris 75008 France. Orea's head office is located at 1090 Hamilton Street, Vancouver, British Columbia V6B 2R9.
About OCIM
Established in Paris in 1961, OCIM is headed by a third-generation member of the founding family. Besides its core historical business in Real Estate, OCIM has diversified into other strategic tangible assets such as coinage Precious Metals via its Geneva-based subsidiary. As a Merchant, OCIM trades physical metals across the full value chain, from producers to end users. As a Financier, OCIM invests in a wide variety of instruments and provides financing to the value chain with equity, debt, and alternative investments.
SOURCE Orea Mining Corp.