Origen Appoints VP, Extends Financing
Vancouver, April 21, 2023 - Origen Resources Inc. (CSE: ORGN) (FSE: 4VXA) (the "Company" or "Origen") is pleased to announce it has appointed Mr. Rodney Stevens as VP, of Corporate Development. Mr. Stevens is a Chartered Financial Analyst ("CFA") charterholder with over a decade of experience in the capital markets, first as an investment analyst with Salman Partners Inc. subsequently as a merchant and investment banker.
While at Salman Partners, Mr. Stevens became top-rated by Starmine for the metals and mining industry. Mr. Stevens was also a Portfolio Manager registered with Wolverton Securities Ltd. and over the course of his career, he has been instrumental in assisting in financings and mergers and acquisitions activities worth over $1 billion in transaction value.
Gary Schellenberg, Origen's CEO, commented, "Rodney will be an invaluable asset to the Origen team. I am excited by our on-going work in Argentina at Los Sapitos, and look forward to the summer program on our Newfoundland lithium project. Great to have Rodney come onboard to help us rapidly advance our goals."
Origen's first phase of sampling and mapping work at Los Sapitos is being analysed and a ground-based gravity survey is being contracted. The Company expects sampling results shortly and is still on-track for the initial drill testing program planned for the second half of this year.
Private Placement
Further to Company's first-tranche closing of its private placement on March 14, 2023, the Company has extended the financing and plans to close a second tranche of the unit financing in the near term for estimated proceeds of $1.25 million. Each unit will be issued at $0.25 per unit and consist of one common share and one-half of one common share purchase warrant, with each full warrant being exercisable for a period of 18 months at 40 cents.
About Origen
Origen is fully focused on its 100% interest in the Los Sapitos Lithium project in Argentina and its 100% interest in the 33,000 ha Newfoundland Lithium projects, and also holds a property portfolio of four 100% owned precious and base metal projects in southern British Columbia, a 100% interest in the 26,771 ha LGM project in the mineral rich Golden Triangle of British Columbia, and a portfolio of investments from prior property joint ventures and sales.
On behalf of Origen,
Thomas Hawkins
Managing Director
For further information, please contact Gary Schellenberg, Chief Executive Officer, 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/163280
