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Orex Minerals Closes $5.5 Million Investment By Eric Sprott – Canada NewsWire

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Aug. 19, 2020 /CNW/ – Orex Minerals Inc. (“Orex” or the “Company“) (TSXV: REX) (OTCQB: ORMNF) is pleased to announce the closing of its non-brokered private placement (the “Offering“) previously announced on August 7, 2020. The Offering consisted of 36,666,666 units of the Company (the “Units“) issued to Eric Sprott at a price of $0.15 per Unit for aggregate gross proceeds of $5,499,999.90.

Each Unit consists of one common share (each a “Common Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder thereof to acquire one Common Share at the price of $0.20 per share for a period of 24 months from the closing of the Offering. The Common Shares and Warrants, and any Common Shares issuable upon the exercise of the Warrants, issued pursuant to the Offering are subject to a statutory hold period expiring on December 20, 2020.

The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.

Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 36,666,666 Units pursuant to the Offering. After closing of the Offering, Mr. Sprott beneficially owns or controls 36,666,666 Common Shares and 18,333,333 Warrants (the “Sprott Warrants“) representing approximately 19.6% ownership, on a non-diluted basis, and 26.8% ownership, on a partially diluted basis assuming exercise of all the Sprott Warrants, of the issued and outstanding Common Shares. Mr. Sprott has provided an undertaking not to exercise the Sprott Warrants until such time as the Company can obtain disinterested shareholder approval and TSX Venture Exchange (“TSXV“) approval of Mr. Sprott becoming a new control person for the purposes of the policies of the TSXV, which would occur once Mr. Sprott exceeds 20% ownership of the issued and outstanding Common Shares.

The Units were acquired by Mr. Sprott through 2176423 Ontario Ltd. for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. A copy of 2176423 Ontario Ltd.’s early warning report will appear on the Company’s profile on SEDAR and may also be obtained by calling 416-945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

In connection with the Offering, the Company has agreed to pay a finders’ fee to Mackie Research Capital Corporation by way of issuing 2,199,999 Units (the “Broker Units“) at a deemed price of $0.15 per Broker Unit, such number of Broker Units being equal to 6% of the gross proceeds of the Offering. Each Broker Unit has the same price and terms as the Units issued pursuant to the Offering.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

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 Project with Pan American Silver Corp. and the Coneto Silver-Gold Project with Fresnillo PLC. The third project is the Jumping Josephine Gold Project in British Columbia, Canada. Orex is under the management provided by the experienced Belcarra Group Management Ltd. (the “Belcarra Group“). The Belcarra Group is comprised of highly qualified mining professionals.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President

FORWARD LOOKING STATEMENTS

This news release may contain forward-looking statements, including, but not limited to, statements with respect to the use of proceeds of the Offering, timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company’s financial statements and management discussion and analysis (“MD&A”) available on www.sedar.com. The risk factors identified in the financial statements and MD&A are not intended to represent a complete list of factors that could affect the Company. Actual results may differ materially from those currently anticipated in such statements and Orex undertakes no obligation to update such statements, 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.

For further information: please contact Orex Minerals Inc. at 604-687-8566 x228, email [email protected] or [email protected] or visit our website www.orexminerals.com.

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Unpacking the finance sector's climate related investment commitments – NewClimate Institute

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First analysis of financial sector climate-related investment pledges

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Financial institution’s climate-related investment targets have rapidly grown in recent years. In this report, we provide insights into the magnitude and ambition of these targets, and investigate their relationship with GHG emissions in the real economy. Specifically, this report maps out the financial sector’s climate-related investment targets against a range of indicators, such as monetary investments in ‘green’ projects, and required ‘green’ investments and GHG emission reductions. It thereby considers both climate-related investment pledges made by individual financial institutions as well as those made by major finance-related international cooperative initiatives (ICIs).


Main Findings:

Financial institution’s climate-related investment targets have rapidly grown in recent years. We find financial institutions with cumulative assets of at least USD 47 trillion under management are currently committed to climate-related investment targets. This represents 25% of the global financial market, which is around USD 180 trillion. The number and growth of such targets is significant and represents considerable momentum – even if the individual targets vary in their ambition and do not cover all assets under management.

While the trend and efforts of the financial sector are promising, it should be noted that financial institutions do not have full control over their investees’ emissions. Reducing the carbon intensity of a portfolio by divesting, with the objective of aligning it with the Paris Agreement, does not necessarily always lead to emission reductions in the real economy, as others can invest in the emission intensive assets that were sold. Only if a large share of the financial sector sets and works to actualise robust climate-related investment targets and effectively implements them, investees have to react and reduce their emissions. Currently, most financial institutions that have set such targets are located in Europe, the United States of America, and Australia. To align all financial flows with the Paris Agreement temperature goal, it is crucial that institutions in other parts of the world also commit to ambitious investment targets.

We distinguish between three main types of climate-related investment targets – or mechanisms – that financial institutions can use to influence global GHG emissions: divestment, positive impact investment, and corporate engagement. These mechanisms influence the actions investee companies must take – and correspondingly, global GHG emissions – in different ways (see Figure).

Cause effect relation between the different mechanisms, investee companies and global GHG emissions.

We identified a number of factors at the financial institution, company, and country level that can increase the likelihood that a climate-related investment targets will have an impact on actual emission levels. These include for example the size of a financial institution (measured by assets under management) and whether the targeted investee company has previous experience with ESG. The more these factors point in the right direction, the more likely that investment targets will lead to emissions reductions.

The factors play out differently per asset class and per target type. For example, a divestment target related to a government bond share may produce a different outcome than a divestment from a corporate bond; and corporate engagement is usually more effective if there is direct access to investee’s management.

Insights into the factors or impact conditions may support financial institutions in setting potentially more effective targets, policymakers to consider effective regulation and the scientific community, and the wider public, to better assess financial sector targets.


Contacts for further information: Katharina Lütkehermöller, Silke Mooldijk

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$90 million investment into connectivity infrastructure across B.C. – CKPGToday.ca

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Photo Courtesy: ID 180348991 © Michael Nesterov | Dreamstime.com

By Veronica Beltran

connecting B.C.

Sep 22, 2020 5:00 AM

VICTORIA—The Province is investing $90 million in connectivity to encourage a rapid expansion of high-speed internet access and drive regional economic development in rural areas, Indigenous communities, and along B.C.’s highways.

The one-time $90 million investment is part of B.C.’s Economic Recovery Plan for the Connecting British Columbia program and will target connectivity infrastructure projects for a new Economic Recovery Intake.

“Rural and Indigenous communities are an essential part of the province’s economic engine. Now is the time to invest in modern infrastructure so people living outside the city can also benefit from today’s technologies.”—Anne Kang, Minister of Citizens’ Services

“Ensuring people have the connectivity they need to be successful is a key part of our recovery from the COVID-19 pandemic. This investment will bring real and lasting benefits to families, workplaces and communities throughout B.C., ensuring the province emerges stronger than ever,” adds Kang.

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COVID-19 forces one of the biggest surges in technology investment in history, finds world's largest technology leadership survey – Canada NewsWire

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The largest technology leadership survey in the world of over 4,200 IT leaders, analyzing responses from organizations with a combined technology spend of over US$250bn, also found that despite this huge surge of spending, and security & privacy being the top investment during COVID-19, 4 in 10 IT leaders report that their company has experienced more cyber attacks.

Bev White, CEO of Harvey Nash Group said: “This unexpected and unplanned surge in technology investment has also been accompanied by massive changes in how organizations operate – with more organizational change in the last six months than we have seen in the last ten years. Success will largely be about how organizations deal with their culture and engage with their people.”

Steve Bates, Principal, KPMG in the US and global leader of KPMG International’s CIO Center of Excellence, said: “IT in the New Reality will be shaped by economic recovery patterns unique to each sector, location, and company. While every CIO is responding to these forces differently, one thing remains consistent; the urgency to act swiftly and decisively. Technology has never been more important to organizations’ ability to survive and thrive.

Full release here.

Media Contacts:

David Pippett
ProServ PR
[email protected] 
+44 (0) 7899 798197

Michelle Thomas
Harvey Nash
[email protected]
+44 (20) 7333 2677

Amy Greenshields
KPMG International
+1 416 777 8749
[email protected]

[1] See notes to editors.
[2] See notes to editors.

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SOURCE Harvey Nash Group

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