Origen Sells Its Option to Acquire a 100% Interest in the Middle Gold Property
Vancouver, November 29, 2022 - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce that it has sold its Option to acquire a 100% interest in the 7,875 ha Middle Ridge Property, located in Newfoundland's Exploits Subzone, to a private entity.
"This transaction will allow for focused exploration and development of the project with the ongoing benefit to Origen shareholders through the significant share ownership. The transaction is another milestone for the Company and demonstrates our ability to generate superior projects and monetize the opportunity in a very short time frame," states Gary Schellenberg, CEO.
Deal Terms
The Company has entered into an assignment and assumption agreement with 1345984 B.C. Ltd ("134") for the Middle Ridge Property. In consideration for the agreement, 134 will issue 500,000 common shares to the Company, and has assumed the $25,000 option payment due November 1, 2022 and the subsequent option payments and share issuances.
About Origen
Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium 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 property in the mineral rich Golden Triangle of British Columbia, and a 100% interest in the Los Sapitos Lithium project in Argentina.
On behalf of Origen,
Gary Schellenberg
CEO
For further information, please contact Blake Morgan, President at 236-878-4938 or Gary Schellenberg, CEO at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146022