The Company issued 1,064,000 units under this most recent tranche, at a price of
All securities issued under the private placement are subject to a hold period of four months and a day from the date of issuance.
A company controlled by a director of Origen participated in the private placement. This participation by an insider in the offering constitutes a related party transaction as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. However, the Company considers such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the units subscribed for by the insider, and the consideration for the unit paid by such insider, does not exceed 25 per cent of the Company's market capitalization.
The Company also announces that it has retained the services of
About Origen
Origen is fully focused on its 100% interest in the Los Sapitos Lithium project in
Contact:
Tel: 604-681-0221.
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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