TORONTO, Feb. 6, 2015 /CNW/ - Orion Fund JV Limited ("Orion") reports that it has entered into a subscription agreement with Goldrock Mines Corp. ("Goldrock") whereby Orion has agreed to acquire ownership of 12,578,616 common shares ("Shares") of Goldrock pursuant to a private placement offering at a subscription price of US$0.3975 per Share for an aggregate amount of approximately US$5,000,000.
After giving effect to the private placement, Orion will own 12,578,616 Shares representing approximately 12.3% of the issued and outstanding Shares.
Orion will also acquire anti-dilution rights which will allow Orion to participate in future financings of Goldrock. Subject to availability, price, the general state of the capital markets and the financial condition of Goldrock from time to time, Orion may purchase or sell securities of Goldrock.
For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the private placement, please see below or Goldrock's profile on the SEDAR website at www.sedar.com.
SOURCE Orion Fund JV Limited
For further information: Orion Fund JV Limited, c/o Appleby Management (Bermuda) Ltd., Canon's Court, 22 Victoria Street, PO Box HM 1179, Hamilton HM EX, Bermuda; Limor Nissan, Telephone: (212) 596-3488