Oroco Resource Corp. is pleased to announce that it has closed a non-brokered private placement raising gross proceeds of $4,758,727.55 through the sale of a total of 6,344,970 units at a price of $0.75 per unit.
Heliostar Metals Limited is pleased to announce that further to its news releases dated December 5, 2022, January 17, 2023 and March 3, 2023, it has closed its previously announced non-brokered private placement offering, of which the Company issued 92,727,272 units at a price of C$0.22 per Unit for gross aggregate proceeds of approximately C$20,400,000 (US$15,000,000).
“2022 was a monumental year for Orla as we transitioned to a cash flowing gold producer,” said Jason Simpson, President and Chief Executive Officer of Orla. “The strong cash flows from Camino Rojo will provide a foundation to build upon. Our rich pipeline of exploration and development assets, which we are aggressively advancing, will be critical in growing the Company and increasing value for shareholders.”
Lisa Dea, CFO of GSilver, said: “The new pre-payment facility with OCIM provides additional financial flexibility for our balance sheet as we advance ramp up operations across all four of our producing silver mines in Mexico.”
Canuc Resources Corporation is pleased to announce the closing of a non-brokered private placement for gross proceeds of $900,000 CAD.
Jorge A. Ganoza, President and CEO, commented, “Fortuna finished the year in line with production guidance, with only a slight miss in cost guidance at the Lindero Mine in spite of strong inflationary pressures. Our business continued to generate healthy free cash flow from ongoing operations of $69.2 million and adjusted results of $245.5 million in Adjusted EBITDA, and adjusted net income of $42.6 million or $0.15 per share.”
“Though the 2022 financial results were disappointing, attributable silver production is expected to increase by over 80% in 2023 compared with 2022.”
Effective March 2, 2023, Daniel Kunz has resigned from the Board of Directors, as he was not standing for re-election at the Company’s upcoming Annual General Meeting. Mr. Kunz has been a member of the Board since 2011. To replace Mr. Kunz, Mr. William Matlack has been appointed to the Board.
Monumental Minerals Corp. welcomes Tyron Breytenbach to the advisory board as a senior capital markets advisor to the Company.
Osisko Development Corp. is pleased to announce that the Company has received the required approvals of the Company’s Board of Directors and made an application to the TSX Venture Exchange to reduce the exercise price of the common share purchase warrants issued in 2022.
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