Orogen Royalties plans $10 million private placement at $3.46 per share

Orogen Royalties Inc. (TSXV: OGN) announced plans to raise up to $10 million through a non-brokered private placement involving the issuance of up to 2,890,274 common shares at $3.46 per share.

The company stated it will use proceeds for developing generative exploration initiatives, executing potential royalty acquisitions, and strengthening working capital to support its growth strategy.

Certain directors and officers may participate in the private placement, which would constitute a related party transaction under Multilateral Instrument 61-101. The participation will be exempt from formal valuation and minority shareholder approval requirements as neither the fair market value nor consideration will exceed 25% of the company's market capitalization.

Orogen may pay finder's fees of 5% cash for common shares sold to investors introduced by finders, subject to TSX Venture Exchange approval. All shares issued will be subject to a four-month hold period under applicable securities laws.

The company anticipates closing the private placement within three to four weeks, pending regulatory approvals including TSX Venture Exchange approval. The completion remains subject to these approvals with no assurance the placement will be completed as proposed.

Orogen Royalties focuses on organic royalty creation and royalty acquisitions of precious and base metal discoveries in western North America. The company's portfolio includes the Ermitaño gold and silver mine in Sonora, Mexico, operated by First Majestic Silver Corp.

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