Origen Announces Closing of Financing
Rhea-AI Summary
Origen (OGGNF) closed a non-brokered private placement on April 17, 2026, raising $500,000 by issuing 10,000,000 units at $0.05 each. Each unit includes one share and one-half warrant exercisable at $0.075 for 18 months.
Proceeds will fund the newly acquired REE project areas in Piaui, Brazil, plus working capital and exploration. One placee subscribed for the full offering, exceeded 10% ownership and became an insider. Securities carry a statutory hold period of four months and one day.
Positive
- $500,000 gross proceeds raised via private placement
- Funds earmarked for REE project areas in Piaui, Brazil
- No finder's fees paid, preserving cash for operations
Negative
- Issued 10,000,000 units at $0.05 causing potential dilution
- One placee now holds >10% ownership and became an insider
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2026) - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce that it has closed its non-brokered private placement ("Financing" or "Offering"), previously announced on April 2nd, 2026 raising a total of
The Company issued 10,000,000 units ("Units") at a price of
All securities issued in connection with the Financing were issued pursuant to one or more prospectus exemptions available to the Company and are subject to a statutory hold period of four months and one day from the date of issuance as required under applicable securities laws. Closing of this Financing was subject to customary closing conditions that include applicable CSE filings and approvals. The proceeds of the Offering will be used for the Company's newly acquired REE Project areas in Piaui State, Brazil, general working capital, and exploration expenditures.
None of the securities sold in connection with the Financing will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Origen
Origen is fully focused on its new Brazilian REE acquisition, while holding a
On behalf of Origen,
Gary Schellenberg
CEO and Director
For further information, please contact Gary Schellenberg, CEO at 604-681-0221.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293048