Orex Exploration Inc.: Annual Meeting of Shareholders Held on February 28, 2014 and Proposed Private Placement

Orex Exploration Inc.: Annual Meeting of Shareholders Held on February 28, 2014 and Proposed Private Placement
  
 

MONTREAL, CANADA--(Marketwired - Mar 6, 2014) - OREX EXPLORATION INC. (TSX-VENTURE:OX) (the "Company") - Orex reports that at the Annual and General Shareholders' Meeting held on February 28, 2014, all of the nominees proposed by management have been elected as directors of the Corporation, being Mark Billings, Marcel Faucher, William Felderhof, Jacques Levesque, William McLucas and Claude Poulin. Mr. William McLucas, President and Chief Executive Officer, wishes to thank the shareholders for their support at the Meeting and advises that all resolutions were passed unanimously. Furthermore, Raymond Chabot Grant Thornton LP, chartered accountants of Rouyn-Noranda, were re-appointed auditors of the Corporation for the financial year ending June 30, 2014.

The board of directors have appointed the following people as officers of the Corporation: William McLucas, President and Chief Executive Officer, Mark Billings, Chairman, Jacques Levesque, Chief Financial Officer and Julie Godard, Corporate Secretary.

The Corporation also announces that it intends to proceed with a non-brokered private placement of units for a maximum amount of $500,000. Each unit will be composed of one common share of the Corporation at a price of $0.05 and of one common share purchase warrant, at an exercise price of $0.05 per share, valid for a three-year period. Insiders of the Corporation might subscribe for more than 25% of the offered units. The subscribed securities will be subject to a hold period of four months from the closing date. This private placement is subject to the conditional approval of the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

William McLucasPresident and CEO+44 7881 [e-mail] BillingsChairman the Board(514) [e-mail]