VANCOUVER, BC, Jan. 18, 2022 /CNW/ - Orea Mining Corp.
("Orea") (TSX: OREA) (OTCQX: OREAF) (FSE: 3CG) is pleased
to announce a non-brokered private placement (the "Private
Placement") for gross proceeds of up to CAD$500,000.
The Private Placement is for up to 4,166,667 units at a price of
CAD$0.12 per unit. Each unit is
comprised of one common share of Orea (a "Share"), and a half
warrant. Each full warrant entitles the holder, on exercise, to
purchase one Share at a price of CAD$0.18 for a period of 18 months from the
closing date of the Private Placement.
A finder's fee of 8% payable in shares may be paid in connection
with the Private Placement in accordance with the policies of the
Toronto Stock Exchange (the "TSX"). The Private Placement is
subject to approval by the TSX.
Orea intends to use the proceeds of the Private Placement for
general working capital purposes.
About Orea Mining Corp.
Orea is a leading gold exploration and development company
operating in a prospective and underexplored segment of the Guiana
Shield, South America. Its mission
is to develop gold deposits with a reduced environmental footprint
using innovative technologies, upholding the highest international
standards for responsible mining. In French Guiana, Orea holds a major interest in
the world-class Montagne d'Or mine development project and is also
advancing the Maripa and Suriname gold exploration projects.
For more about Orea visit the company's website at
www.oreamining.com
ON BEHALF OF THE BOARD:
Rock Lefrançois
President & CEO
Forward-looking
statements
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Certain statements
made herein, including statements relating to matters that are not
historical facts and statements of the Company's beliefs,
intentions and expectations about developments, results and events
which will or may occur in the future, constitute "forward looking
information" within the meaning of applicable Canadian securities
legislation ("forward-looking statements"). Forward-looking
statements relate to future events or future performance, reflect
current expectations or beliefs regarding future events and are
typically identified by words such as "anticipate", "could",
"should", "expect", "seek", "may", "intend", "likely", "budget",
"plan", "estimate", continue", "forecast", "believe", "predict",
"potential", "target", "would", "might", "will", and similar words,
expressions or phrases (including negative variations) suggesting
future outcomes or statements regarding an outlook. These include,
but are not limited to, statements and information regarding: the
Company's plans to construct and develop the Montagne d'Or project,
including anticipated timing thereof; the timing, processes,
outcome and other matters related to the renewal of the Montagne
d'Or concessions, including the appeal from the French Government;
the satisfaction of regulatory requirements in respect of the
permitting, construction and operation of the Montagne d'Or
project, including but not limited to, the submission and
processing of mine permit applications, the timing thereof and the
timing of completion of environmental and engineering studies; the
Company's ability to renew the concessions for the Montagne d'Or
project and to comply with the conditions thereof; economic
analysis for the Montagne d'Or project and related exploration
objectives and plans; the conversion of mineral resources into
mineral reserves and the conversion of inferred mineral resources
into higher resource classification categories; the Company's
objective of become 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 the implications thereof; the production
capacity and potential of future plant and equipment; future
exploration and mine plans, objectives and expectations and
corporate planning of the Company, future studies and environmental
impact statements and the timetable for completion and content
thereof and statements as to management's expectations with respect
to, among other things, the matters and activities contemplated in
this news release.
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Forward-looking
statements are made based upon certain assumptions and other
important factors that, if untrue, 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 such statements. Such assumptions and
analyses are made by the Company's management in light of their
experience and perception of historical trends, current conditions
and expected future developments, as well as other factors
management believes are reasonable and appropriate in the
circumstances. All assumptions and analyses are those of the
Company's. 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 compliance by the Company with regulatory and permitting
requirements applicable in French Guiana, the sufficiency of
Company's working capital; the Company's ability to secure
additional funding 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 hence cautioned
not to place undue reliance on forward-looking
statements.
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Certain important
factors that could cause actual results, performance or
achievements to differ materially from those in the forward-looking
statements include, among others, political and economic risks in
France, political and economic risks in French Guiana, risks
related to the renewal applications for the Concessions and the
possible outcomes thereof; possible negative outcomes of any
appeals from the decision of the Administrative Court of Cayenne in
French Guiana; regulatory risk including but not limited to
unforeseen 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, permitting and licensing risk, the estimation of
mineral resources and mineral reserves and related interpretations
and assumptions, future profitability of the Company, the ability
to obtain additional financing on a timely basis, the price of gold
and marketability thereof, government regulations including with
respect to taxes, royalties, land tenure and land use, title to the
Company's properties, currency exchange rates and fluctuations,
environmental risks, dilution resulting from the issuance of
additional securities of the Company, joint venture risks, reliance
on Nord Gold plc as operator of the Montagne d'Or project, the
availability of equipment, conflicts of interest, competition in
the mining industry, uninsured risks, market fluctuations, global
financial conditions, credit risk 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 forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
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.
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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
predicted outcomes will not occur. Events or circumstances could
cause the Company's actual results to differ materially from those
estimated or projected and expressed in, 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 in Company's annual
information form dated December 15, 2021 for the year ended
September 30, 2021 ("AIF").
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Readers are further
cautioned that the list of factors enumerated in the "Risk Factors"
section of the AIF that may affect future results is not
exhaustive. When relying on the Company's forward-looking
statements and information to make decisions with respect to the
Company, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events.
Furthermore, the forward-looking statements and information
contained herein are made as of the date of this document and the
Company does not undertake any obligation to update or to revise
any of the included forward-looking statements or information,
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.
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SOURCE Orea Mining Corp.