Orecap Announces Normal Course Issuer Bid

Toronto, March 26, 2024 - Orecap Invest Corp. ‎(TSXV: OCI) ("Orecap" or the "Company") ‎is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange (the "TSXV") to ‎conduct a Normal Course Issuer Bid ("NCIB") to purchase for cancellation, during the 12-month period ‎starting April 2, 2024, up to 23,316,772 of the outstanding common shares of the Corporation (the ‎‎"Common Shares"), representing 10% of the Public Float (as defined by the TSXV). The program will end on ‎April 1, 2025 unless the maximum amount of Common Shares is purchased before then or Orecap ‎provides earlier notice of termination.‎

Orecap believes that the market price of its Common Shares may not reflect their underlying value and the ‎Board of Directors has authorized this initiative because, in the Board's opinion, the proposed purchase ‎of Common Shares pursuant to the NCIB constitutes an appropriate use of Orecap's funds, and the ‎repurchase of its Common Shares is one way of creating shareholder value.‎

The purchase and payment for the Common Shares will be made by Orecap through the facilities of the ‎TSX Venture Exchange or alternative trading systems. Beacon Securities Limited has been selected as Orecap's agent for the NCIB. The price paid for the Common Shares will be, subject to NCIB pricing ‎rules contained in securities laws, the prevailing market price of such Common Shares on the TSX ‎Venture Exchange at the time of such purchase. Orecap intends to fund the purchases out of available ‎cash and working capital.‎

To the knowledge of Orecap, no director, senior officer or other insider of the Orecap currently intends to ‎sell any Common Shares under the NCIB. However, sales by such persons through the facilities of the ‎TSX Venture Exchange may occur if the personal circumstances of any such person changes or any such ‎person makes a decision unrelated to these NCIB purchases. The benefits to any such person whose ‎Common Shares are purchased would be the same as the benefits available to all other holders whose ‎Common Shares are purchased.‎

About Orecap Invest Corp.

Orecap seeks Special Situation investments in the natural resource sector that offer shareholders diverse exposure to high returns in precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold (TSXV: AE) (OTCQB: AMEGF), QC Copper and Gold (TSXV: QCCU) (OTCQB: QCCUF), Mistango (CSE: MIS), Awale Resources (TSXV: ARIC), and Cuprum Corp. in addition to owning a broad portfolio of land packages focussed on gold, copper and zinc. Agnico Eagle Mines Ltd. is a 9.9% shareholder in Orecap.

Orecap's Current Equity Holdings include:

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For further information, please contact us:

Orecap Invest Corp.
Stephen Stewart, Chief Executive Officer
416.644.1567
sstewart@oregroup.ca

Neither the 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.

Forward Looking Statements

Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements)", including details about the business of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. In particular, this news release contains forward-looking information regarding: the NCIB, including the ‎commencement and end date of the NCIB. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the ‎underlying value of Orecap and its Common Shares; the ability of Orecap to complete purchases under the NCIB; and ‎final TSX Venture Exchange acceptance of the NCIB‎. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in the Company's public disclosure documents available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203037