Orogen Royalties arranges $10-million private placement

Executive Summary

• Orogen Royalties Inc. announced a non-brokered private placement to raise up to $10 million through the issuance of common shares.
• The shares are priced at $3.46 per unit, with up to 2,890,274 common shares to be issued.
• Proceeds will be used for generative exploration, potential royalty acquisitions, and strengthening working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Gross Proceeds: Up to $10,000,000.
• Share Price: $3.46 per common share.
• Quantity: Up to 2,890,274 common shares.
• Use of Proceeds: Developing generative exploration initiatives, executing potential royalty acquisitions, and strengthening working capital to support the continuing growth strategy.
• Related Party Transactions: Directors and officers may participate; such participation is exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 as the value will not exceed 25% of market capitalization.
• Finders' Fees: A 5% cash fee may be paid for common shares sold to investors introduced by finders, subject to TSX Venture Exchange approval.
• Hold Period: All common shares issued are subject to a four-month hold period under applicable Canadian and international securities laws from the closing date.
• Timeline: The company anticipates closing within approximately three to four weeks from the date of the release, subject to regulatory approvals.

Notable Quotes

• None provided in the text.