{"id":1174485,"date":"2020-03-27T12:35:08","date_gmt":"2020-03-27T18:35:08","guid":{"rendered":"https:\/\/www.mining.com\/?p=1018458"},"modified":"2020-03-27T12:35:08","modified_gmt":"2020-03-27T18:35:08","slug":"sprott-increases-stake-in-orefinders","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1174485","title":{"rendered":"Sprott increases stake in Orefinders"},"content":{"rendered":"<p>Orefinders Resources (TSXV: ORX) <a href=\"http:\/\/www.orefinders.ca\/march-27-2020\/\"  rel=\"noreferrer noopener\" aria-label=\"has closed (opens in a new tab)\">has closed<\/a> the flow-through portion of its previously announced private placement for aggregate proceeds of approximately C$619,000. <\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Upon closing of the offering, the company issued around 8.84 million units at a price of C$0.07 per unit, where each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at a price of C$0.08 for a period of 24 months from the date of issuance.<\/p>\n<p>Mining investor Eric Sprott acquired 7.14 million of those units, increasing his ownership in the company&#8217;s capital to just over 20 million common shares and 10 million warrants, representing approximately 11.89% of those outstanding on a non-diluted basis and 16.84% on a partially diluted basis.<\/p>\n<p>Sprott recently became a shareholder of Orefinders when he participated in the company&#8217;s <a aria-label=\"C$1.49 million private placement (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"https:\/\/www.mining.com\/orefinders-secures-investment-from-sprott\/\" >C$1.49 million private placement<\/a> in February, acquiring 8.07% of the company&#8217;s outstanding stock on a non-diluted basis and 11.64% on a partially diluted basis.<\/p>\n<p>Orefinders is currently developing gold assets in Ontario\u2019s Abitibi Greenstone Belt, including the McGarry, Knight and Mirado projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sprott recently became a shareholder of Orefinders in February.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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