Orex Minerals Inc. announced a non-brokered private placement of up to 6,666,667 units at a price of CAD 0.15 per unit for gross proceeds of up to CAD 1,000,000.05 on November 28, 2023. Each unit consisting of one common share and one warrant. Each warrant will entitle the holder thereof to acquire one share at a price of CAD 0.25 per share for a period of 24 months from their date of issue.

The transaction is anticipated to close on or about December 7, 2023. The closing of the offering is subject to certain conditions, including the approval of the TSX Venture Exchange and certain other conditions customary for a private placement of this nature. All securities issued pursuant to the offering will be subject to a statutory four month and one day hold period from their respective date of issue.

The company may pay a finder's fee in respect of those purchasers under the offering introduced to the company. Each finder will receive a cash payment equal to 6% of the gross proceeds received by the company from purchasers under the offering who were introduced to the company by such finder.