/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, June 28, 2019 /CNW/ - Orford Mining Corporation ("Orford") (TSXV: ORM) is pleased to announce the results of its 2019 Annual Meeting of Shareholders held today.
At the meeting, the shareholders of Orford Mining elected David Christie, Mark Goodman, John Leddy, Ben Pullinger, Mark Selby, Lawrence Smith and Alger St-Jean as directors of the Company for the ensuing year.
The shareholders also voted in favour of the appointment of PricewaterhouseCoopers LLP as the auditor of the Company for the ensuing year.
Further to the Company's news release dated June 17, 2019 announcing the proposed private placement financing, the Company has increased the size of the hard dollar unit offering ("Units") and intends to sell up to 9,678,373 units at an issue price of C$0.10 per Unit for gross proceeds of up to approximately C$967,837. The Units will be comprised of one common share of the Corporation and one-half common share purchase warrant (each whole warrant a "Warrant"). Each Warrant will be exercisable at a price of C$0.20 per common share for a period of 24 months following the closing date, subject to acceleration in the event that the closing trading price of the common shares on the TSXV is at or greater than C$0.60 for a period of more than 20 consecutive trading days following the date that is four months and one day following the closing date of the Offering.
About Orford Mining Corporation
Orford Mining is a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik and West Raglan projects comprising of a land package totaling over 70,000 hectares in the Cape Smith Belt of Northern Quebec. The Qiqavik Project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 km. Orford's common shares trade on the TSX Venture Exchange under the symbol ORM.
To view further details about the Qiqavik and West Raglan projects please visit Orford's website, www.orfordmining.com.
Cautionary Statement Concerning Forward-Looking Statements
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" including without limitation statements relating to the closing of the proposed private placement financing, liquidity and capital resources of Orford and potential of one or more of the Qiqavik, and West Raglan, properties.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Orford to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Orford's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although Orford 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 to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Orford disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws..
The TSXV has neither approved nor disapproved the contents of this news release.
SOURCE Orford Mining Corporation
For further information: David Christie, President and CEO, T: (416) 309-0609, www.orfordmining.com