VANCOUVER, May 26, 2020
/CNW/ - Orex Minerals Inc. – (TSX-V: REX – OTCQB:
ORMNF) ("Orex" or the "Company") is pleased to
announce that it has engaged Red Cloud Financial Services Inc.
("Red Cloud") to provide
various investor relations services to the Company.
Red Cloud is a Toronto-based financial services company that
provides assistance in accessing capital markets. Red Cloud has been granted stock options of the
Company to purchase 250,000 Common Shares at a price of
$0.10 per share as partial
consideration for its provision of services to the Company, which
will mainly consist of organizing and administering "roadshows",
drafting traditional marketing materials, managing Orex's social
media and providing traditional media support and assistance in the
creation of video content for exclusive use on "Red Cloud TV".
Under the engagement, Red Cloud will
also be paid a fee of $10,000 per
month for the services it will render to the Company. Neither
Red Cloud nor its principal
currently own any common shares of the Company. Red Cloud has no direct relationship with the
Company, other than as contemplated in the current agreement. The
stock options granted to Red Cloud
are exercisable for a period of three years and vest over a period
of 12 months from the date of grant in equal quarterly
installments.
The Agreement with Red Cloud is
for an initial period of six months and automatically renews
month-to-month thereafter. The engagement of Red Cloud and grant of stock options are subject
to TSX Venture Exchange approval. The stock options granted to
Red Cloud and any shares issued on
the exercise of these stock options will be subject to a four-month
and one day hold period from the date of grant.
ABOUT OREX MINERALS INC.
Orex is a Canadian-based junior exploration company comprised of
highly qualified mining professionals. Orex has several current
projects: the Coneto Gold-Silver Project in Durango, Mexico, a joint venture with
Fresnillo PLC, the Jumping Josephine Gold-Silver Project in
British Columbia, Canada, and the
joint venture with Pan American with respect to the Project.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
This release may contain forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements of Orex to be materially
different from any future results, performance, or achievements
expressed or implied by the forward-looking statements.
Forward-looking statements relate to, among other things, the
appointment Red Cloud and TSXV
approval of the options granted. These forward-looking statements
are based on management's current expectations and beliefs but
given the uncertainties, assumptions and risks, readers are
cautioned not to place undue reliance on such forward-looking
statements or information. Orex disclaims any obligation to update,
or to publicly announce, any such statements, events or
developments except as required by law.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Orex Minerals Inc.