- Mines D'Or Orbec (TSXV: BLUE) completes first tranche of non-brokered private placement, raising $575,000.
- Funds to be used for exploration at Muus Property and general operations.
- Key investors include Chairman Chad Williams and CEO John Tait, contributing a combined total of $225,000.
Mines D'Or Orbec (TSXV: BLUE) has successfully closed the first tranche of its non-brokered private placement, securing $575,000 in funding. This was achieved through the sale of 10.5 million units at a price of $0.05 per unit, coupled with 714,284 flow-through shares sold at $0.07 per share. Each unit consists of one common share and half a warrant, with a full warrant allowing the purchase of an additional share at $0.075 within 18 months.
The proceeds from the flow-through shares will be directed towards exploration activities at the company's Muus Property in Chibougamau, Québec. Meanwhile, funds raised through the units will be allocated towards general exploration initiatives and working capital requirements.
Noteworthy participants in this tranche include Chad Williams, Chairman of Mines D'Or Orbec, investing $125,000, and CEO John Tait, contributing $100,000. Their participation underscores a strong management commitment towards the company's strategic growth. The final tranche of this offering is anticipated to close around May 9th, 2025, with all securities subject to a four-month hold period pending the final approval of the TSX Venture Exchange.
