Saturday, August 9, 2025

Oro X Mining Releases Terms For $14.0 Million Financing

Oro X Mining (TSXV: OROX) this morning announced the pricing of a private placement being conducted in connection with its acquisition of Latitude Silver. To be conducted through a subsidiary of Latitude, the financing will see the firm look to raise a minimum of $14.0 million in connection with the completion of the combination of the two firms.

The financing, which is being led by Echelon Wealth and Red Cloud Securities, will see subscription receipts sold at a price of $0.60 per each, with subscription receipts converting into one common share of the issuer upon the satisfaction of escrow conditions. One such condition is the closing of the business combination between Latitude Silver and Oro X.

Upon closing of the transaction, which currently does not have a stated completion date, such common shares will be converted on a one for one basis for Oro X shares, with securities not being subject to any hold period.

Proceeds from the financing are to be used to fund a 30,000 metre drill campaign, to develop the Nueva Recuperada project, and for general working capital. The offering is currently slated to close April 8, 2021.

Oro X Mining last traded at $0.69 on the TSX Venture.


Information for this briefing was found via Sedar, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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