VANCOUVER, BC, June 17, 2022 /CNW/ – Orea Mining Corp. (“Orea”) (Toronto Stock Exchange: OREA) (OTCQX: OREAF) (ESF: 3CG) is pleased to announce that it has closed the first tranche of its previously announced private placement (the “First installment“) (see press release of June 13, 2022), generating a gross product of CA$215,000 through the issue of 4,300,000 shares of Orea (each a “Unity“) at the price of CA$0.05 per unit. Each unit consists of one common share of Orea (a “To share“) and one full warrant. Each warrant entitles its holder, upon exercise, to purchase one share at a price of CA$0.10 for a period of 18 months from the closing date of the First Tranche. An insider of Orea participated in the first installment. A total of CA$12,000 is paid as a finder’s fee under the first installment.
The proceeds of the First Tranche will mainly be used to finance an action plan, which Orea’s management and its advisers have initiated, in response to the sanctions imposed by United States on gold of the north plc(“Nordgold“), partner of the Orea joint venture (see press release of the June 7, 2022).
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any securities laws of United States, and may not be offered or sold in United States or to, or for the account or for the benefit of, United States persons absent from registration or any applicable exemption from the registration requirements of United States securities law and applicable United States securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in United Statesnor in any other jurisdiction.
ON BEHALF OF THE COUNCIL:
President and CEO
Certain statements made herein, including statements relating to matters that are not historical facts and statements of the Company’s beliefs, intentions and expectations regarding developments, results and events that will or may occur in the future, constitute “forward-looking information” within the meaning of applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements relate to future events or future performance, reflect current expectations or beliefs about future events, and are generally identified by words such as “anticipate”, “could”, “should”, “would”. expect”, “seek”, “could”, “intend”, “likely”, “budget”, “plan”, “estimate”, continue”, “expect”, “believe”, “predict” , “potential”, “target”, “would”, “could”, “will”, and similar words, phrases or phrases (including negative variations) suggesting future results or statements regarding the outlook. include, but are not limited to, statements and information regarding: the Company’s plans to build and develop the Montagne d’Or project, including the expected timeline thereof; the schedule, processes, results and other issues related to the renewal of the Montagne d’Or concessions, including understood the appeal of the French government; the satisfaction of regulatory requirements with respect to authorization, construction and operation of the Montagne d’Or project, including with respect to, but not limited to, the submission and processing of applications for mining permits, the timing of those -ci and the timetable for completion of the environmental and technical studies; the Company’s ability to renew the concessions of the Montagne d’Or project and to comply with the conditions thereof; economic analysis of the Montagne d’Or project and related exploration objectives and plans; the conversion of mineral resources to mineral reserves and the conversion of inferred mineral resources to higher categories of resource classification; the Company’s objective of becoming an emerging gold producer; the acquisition of exploration projects, including terms of acquisition, exploration or development plans, intentions to acquire additional exploration or development interests and their implications; the production capacity and potential of future plants and equipment; future exploration and mining plans, objectives and expectations and corporate planning of the Company, use of proceeds from financings; future studies and environmental impact statements and the timing of their completion and their contents; and statements as to management’s expectations regarding, among other things, the matters and activities contemplated in this press release.
Forward-looking statements are made based on certain assumptions and other important factors which, if incorrect, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements. expressed or implied by these statements. These assumptions and analyzes are made by the management of the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that management deems reasonable and appropriate in the circumstances. All assumptions and analyzes are those of the Company. There can be no assurance that such statements will prove to be accurate. Forward-looking statements are based on numerous assumptions regarding present and future business strategies, local and global economic conditions and the environment in which the Company will operate in the future, including the Company’s compliance with regulatory requirements and authorization applicable in French Guiana, the adequacy of the Company’s working capital; the Company’s ability to obtain additional financing for the continued exploration and development of its properties; the price of gold and other metals; and the Company’s ability to retain key personnel. You are therefore cautioned not to place undue reliance on forward-looking statements.
Certain important factors that could cause actual results, performance or achievements to differ materially from those set forth in the forward-looking statements include, among others, political and economic risks relating to Francepolitical and economic risks in French Guiana, the risks related to requests for renewal of Concessions and their possible consequences; any negative outcomes of any appeals against the decision of the Administrative Court of Cayenne in French Guiana; regulatory risk, including, but not limited to, unexpected changes in regulatory requirements, the Company’s ability to enforce its contractual and other legal rights to explore and exploit its properties, risks related to exploration and development, permit and license risks, mineral resource and reserve estimation and related interpretations and assumptions, the future profitability of the Company, the ability to obtain additional financing over time timing, the price of gold and its marketability, government regulations, including with respect to taxes, royalties, land tenure and land use, title to the Company’s properties, rates of exchange rates and fluctuations, environmental risks, dilution resulting from the issuance of additional securities of the Company, joint venture risks, dependence on gold of the north plc as operator of the Montagne d’Or project, availability of equipment, conflicts of interest, competition in the mining industry, uninsured risks, market fluctuations, global financial conditions, risk of credit and risks arising from pandemics and epidemics such as the COVID-19 pandemic. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause the actions, events or results are not those intended, estimated or intended. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the anticipated results will not occur. Events or circumstances could cause the actual results of the Company to differ materially from those estimated or projected and expressed or implied by these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are included in the “Risk Factors” section of the Company’s Annual Information Form dated December 15, 2021 for the year ended September 30, 2021 (“FIA”).
Readers are further advised that the list of factors listed in the “Risk Factors” section of the AIF that could affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions about the Company, investors and others should carefully consider the foregoing factors as well as other uncertainties and potential events. Further, the forward-looking statements and information contained herein are made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements or information included herein, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements and information contained herein are expressly qualified by this cautionary statement.
SOURCEOrea Mining Corp.
For further information: Investor Relations, (604) 634-0970 or 1 888-818-1364, [email protected]