Origen Congratulates Exploits on Financing with Strategic Investors
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2021) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VX) (the "Company" or "Origen") congratulates Exploits Discovery Corp. (CSE: NFLD) on it's $8 million fund raising with key investors, New Found Gold (TSXV: NFG) and Mr. Eric Sprott. The entire Private Placement is being fully subscribed and invested into by Mr. Sprott and New Found Gold; with each party investing $4,000,000. Upon completion of the financing, Mr. Sprott will hold 15.1% on a non-diluted basis and 26.3% on a partially diluted basis assuming exercise by Mr. Sprott of all Warrants held; while New Found Gold will hold 13.6% on a non-diluted basis and 19.2% on a partially diluted basis assuming exercise by New Found Gold of all Warrants held.
"Our early investment in Exploits Discovery Corp. continues to drive value for our shareholders. Origen positioned themselves very early in Newfoundland with its investment in Exploits and claim holdings that exceed 40,000 hectares. Origen currently holds over 3 millions shares of Exploits Discovery and continues to be a strong supporter," states Blake Morgan, Company President.
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 and an option to acquire a 100% interest in the 3,971 ha Wishbone property in the mineral rich Golden Triangle of British Columbia, a 100% interest in the Middle Ridge gold project and a 100% interest in 12 lithium prospects in Newfoundland.
On behalf of Origen,
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.
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