September 6, 2016 / 6:42 PM / a year ago

BRIEF-Orex to offer $1.25-$1.5 mln in private placement

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Sept 7 (Reuters) - Orex Exploration Inc

* Orex exploration inc.: announcement of project of private placement of units for a minimum of $1.25 million and maximum of $1.5 million

* Intent to proceed with a non-brokered private placement for a minimum amount of $1.2 million and a maximum amount of $1.5 million

* Proceeds from subscriptions to be used to establish revised mine development plan, undertake supplementary exploration program on Goldboro property

* Intent to proceed with non-brokered private placement for a minimum amount of 25 million units and a maximum amount of 30 million units

* All securities of Orex to be issued under private placement will be subject to hold period of four months from each closing date Source text for Eikon: Further company coverage: [ ]

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