Orecap Invests in Metal Energy
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) has entered into a binding term sheet to invest in Metal Energy Corp (TSXV: MERG). The investment involves Orecap leading a non-brokered private placement offering of up to $500,000, with Orecap intending to subscribe for up to $220,000 in Units.
The offering includes Units at $0.04 each and Flow-Through Units at $0.05 each. Each Unit comprises one common share and half a warrant, with each full warrant exercisable at $0.08 per share for 24 months. The transaction is expected to close around December 17, 2024, subject to TSX Venture Exchange approval.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) ha stipulato un contratto vincolante per investire in Metal Energy Corp (TSXV: MERG). L'investimento prevede che Orecap guida un'offerta di collocamento privato non mediato fino a $500.000, con l'intenzione di sottoscrivere fino a $220.000 in Unit.
L'offerta comprende Unit a $0,04 ciascuna e Flow-Through Unit a $0,05 ciascuna. Ogni Unit consiste in un'azione comune e metà di un warrant, con ogni warrant intero esercitabile a $0,08 per azione per 24 mesi. Si prevede che la transazione si chiuda intorno al 17 dicembre 2024, soggetta all'approvazione della Borsa di Toronto Venture.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) ha firmado un acuerdo vinculante para invertir en Metal Energy Corp (TSXV: MERG). La inversión implica que Orecap lidera una oferta de colocación privada no mediada de hasta $500,000, con Orecap teniendo la intención de suscribir hasta $220,000 en Unidades.
La oferta incluye Unidades a $0.04 cada una y Unidades de Flujo a $0.05 cada una. Cada Unidad consta de una acción ordinaria y medio warrants, siendo cada warrant completo ejercitable a $0.08 por acción durante 24 meses. Se espera que la transacción se cierre alrededor del 17 de diciembre de 2024, sujeto a la aprobación de la Bolsa de Valores de Toronto Venture.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF)는 Metal Energy Corp (TSXV: MERG)에 투자하기 위한 구속력 있는 조건서를 체결했습니다. 이번 투자는 Orecap이 최대 $500,000의 비중개 사모 펀드 제안을 주도하는 것을 포함하며, Orecap은 최대 $220,000을 유닛으로 구독할 계획입니다.
이번 제안에는 각각 $0.04의 유닛과 $0.05의 흐름 유닛이 포함됩니다. 각 유닛은 일반 주식 1주와 워런트 반 개로 구성되며, 전체 워런트는 주당 $0.08에 24개월 동안 행사할 수 있습니다. 거래는 2024년 12월 17일 경에 종료될 것으로 예상되며, TSX Venture Exchange의 승인을 받을 예정입니다.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) a conclu un terme contraignant pour investir dans Metal Energy Corp (TSXV: MERG). Cet investissement implique qu'Orecap dirige une offre de placement privé non intermédiée d'un montant allant jusqu'à $500,000, Orecap prévoyant de souscrire jusqu'à $220,000 en unités.
L'offre comprend des unités à $0,04 chacune et des unités à flux à $0,05 chacune. Chaque unité se compose d'une action ordinaire et de la moitié d'un warrant, chaque warrant complet pouvant être exercé à $0,08 par action pendant 24 mois. On s'attend à ce que la transaction soit clôturée vers le 17 décembre 2024, sous réserve de l'approbation de la Bourse de croissance TSX.
Orecap Invest Corp (TSXV: OCI, OTCQB: ORFDF) hat eine verbindliche Vereinbarung getroffen, um in Metal Energy Corp (TSXV: MERG) zu investieren. Die Investition umfasst, dass Orecap eine nicht vermittelte Privatplatzierung von bis zu $500.000 leitet, wobei Orecap plant, bis zu $220.000 in Einheiten zu zeichnen.
Das Angebot umfasst Einheiten zu je $0,04 und Flow-Through-Einheiten zu je $0,05. Jede Einheit besteht aus einer Stammaktie und einem halben Warrant, wobei jeder vollständige Warrant für $0,08 pro Aktie über einen Zeitraum von 24 Monaten ausgeübt werden kann. Es wird erwartet, dass die Transaktion rund um den 17. Dezember 2024 abgeschlossen wird, vorbehaltlich der Genehmigung durch die TSX Venture Exchange.
- Leading position in a $500,000 private placement offering
- Strategic investment in Metal Energy's Highland Valley Project, adjacent to Teck Resources' copper mine
- Related party transaction due to overlapping directors and officers between Orecap and Metal Energy
- Regulatory approval required for transaction completion
Toronto, Ontario--(Newsfile Corp. - December 4, 2024) - Orecap Invest Corp. (TSXV: OCI) (OTCQB: ORFDF) (the "Company" or "Orecap") is pleased to announce that it has entered into a binding term sheet ("Term Sheet") for an investment in Metal Energy Corp. (TSXV: MERG) ("Metal Energy"), a junior mineral exploration company which recently acquired the Highland Valley Project, located adjacent to Teck Resources' (TSX: TECK.B) Highland Valley Copper mine in British Columbia (the "Investment").
Details on Metal Energy and its Recently Acquired Highland Valley Project
Orecap will be the lead order in Metal Energy's non-brokered private placement (the "Offering") for aggregate gross proceeds of up to
Each Unit will be comprised of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant ("Warrant"). Each Warrant is exercisable to acquire one Common Share in the capital of the Company (a "Warrant Share") at an exercise price of
The participation of Orecap in the Offering will be a Non-Arm's Length Transaction under TSX Venture Exchange policies, and may be treated as a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as certain directors and officers of Metal Energy are also directors, officers and/or shareholders Orecap.
MI 61-101 requires that an issuer obtain approval of a majority of the disinterested shareholders as well as a formal valuation for a transaction that constitutes a related party transaction, absent an exemption from such requirements. The participation of Orecap in the Offering will be exempt from the valuation requirement and minority shareholder requirements of MI 61-101 as the Metal Energy Shares will not exceed
The Offering is scheduled to close on or around December 17, 2024, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.
About Orecap Invest Corp.
Orecap seeks special situation investments in the natural resource sector that offer shareholders diverse exposure to high returns on precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold (TSXV: AE) (OTCQB: AMEGF), QC Copper and Gold (TSXV: QCCU) (OTCQB: QCCUF), Mistango (CSE: MIS), Awale Resources (TSXV: ARIC), and Cuprum Corp. in addition to owning a broad portfolio of land packages focused on gold, copper and zinc. Agnico Eagle Mines Limited is a
About Metal Energy Corp.
Metal Energy is a critical metals exploration company with two high-potential projects in politically stable, Canadian jurisdictions: Manibridge (Ni-Cu-Co-PGE) in Manitoba and its recently acquired Highland Valley Project (Cu-Mo-Ag-Au-Re) in British Columbia.
Orecap's Current Equity Holdings include:
| Company (Ticker) | Shares Owned / (% of Outstanding Shares) |
| Cuprum Corp. (PrivateCo) | 29,500,000 / ( |
| Mistango River Resources (CSE: MIS) | 24,708,975 / ( |
| QC Copper and Gold (TSXV: QCCU) (OTCQB: QCCUF) | 5,059,752 / ( |
| American Eagle Gold (TSXV: AE) (OTCQB: AMEGF) | 11,783,748 / ( |
| Awale Resources (TSXV: ARIC) | 7,389,833 + 4,166,666 warrants / ( |
For the latest videos from Orecap, Ore Group, and all things Mining, subscribe to our YouTube Chanel: youtube.com/@theoregroup.
For further information, please contact us:
Orecap Invest Corp.
Stephen Stewart, Chief Executive Officer
416.644.1567
sstewart@oregroup.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements)", including details about the business of the Company. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements, including, but not limited to, the receipt by the Company of the approval of the TSX Venture Exchange for the name change. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in the Company's public disclosure documents available at www.sedarplus.ca. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232455
FAQ
What is the size of Orecap's (ORFDF) investment in Metal Energy's private placement?
What are the terms of Metal Energy's private placement that Orecap (ORFDF) is participating in?
When is the expected closing date for Orecap's (ORFDF) investment in Metal Energy?
