Orex Announces Grant of Options

Rhea-AI Summary

Orex Minerals Inc. has granted 3,600,000 stock options to its directors, officers, and consultants at an exercise price of $0.10 per share, expiring in five years. This option grant increases the total outstanding stock options to 12,500,000, representing 6.7% of the company's issued share capital. Orex is engaged in precious and base metals exploration in Mexico and Canada, with key projects including Sandra Silver-Gold and Coneto Gold-Silver in Mexico, and Jumping Josephine Gold Project in British Columbia.

Positive

• Grant of 3,600,000 stock options potentially aligns management interests with shareholders.
• Expansion of total stock options to 12,500,000 can attract and retain key talent.

Negative

• Stock options may dilute existing shareholders' equity if exercised.
• Current stock options represent 6.7% of issued share capital, raising concerns about share dilution.

VANCOUVER, BC, Dec. 22, 2021 /PRNewswire/ - Orex Minerals Inc. (TSXV: REX) (OTCQB: ORMNF) (the "Company" or "Orex") announces that it has granted an aggregate of 3,600,000 incentive stock options to directors, officers, and consultants to purchase up to 3,600,000 common shares in the capital of Orex. The incentive stock options have an exercise price of $0.10 per share, expire five years from the date of grant, and vest immediately. As a result of this option grant, Orex has 12,500,000 stock options outstanding, representing 6.7% of the issued and outstanding share capital of the Company.

ABOUT OREX MINERALS INC.

Orex Minerals Inc. is a mineral exploration company focused on precious and base metals exploration in Mexico and Canada. Orex has several current projects: Two projects are located in Durango State, Mexico, the Sandra Silver-Gold Project with Pan American Silver Corp. and the Coneto Gold-Silver Project with Fresnillo PLC. The third project is the Jumping Josephine Gold Project in British Columbia, Canada. Orex is managed by the experienced Belcarra Group Management Ltd. (the "Belcarra Group"), comprised of highly qualified mining professionals.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ Ben Whiting
Ben Whiting
President

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

View original content:https://www.prnewswire.com/news-releases/orex-announces-grant-of-options-301450217.html

SOURCE Orex Minerals Inc.

FAQ

What did Orex Minerals announce on December 22, 2021?

Orex Minerals announced the granting of 3,600,000 stock options to its directors, officers, and consultants.

What is the exercise price of Orex Minerals' stock options?

The exercise price of the stock options granted by Orex Minerals is $0.10 per share.

How many total stock options are outstanding for Orex Minerals?

After the grant, Orex Minerals has a total of 12,500,000 stock options outstanding.

What percentage of Orex Minerals' issued share capital do the stock options represent?

The stock options represent 6.7% of the issued and outstanding share capital of Orex Minerals.

Where is Orex Minerals focused on exploration?

Orex Minerals is focused on precious and base metals exploration in Mexico and Canada.