Orford announces financing of up to $1.0 million

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TORONTO, Nov. 7, 2023 /CNW/ - Orford Mining Corp. ("Orford" or the "Company") (TSXV:ORM.VN) is pleased to announce a non-brokered private placement of up to: (i) 15.0 million in the aggregate "flow-through" share units ("FT Units") at an issue price of C$0.05 per unit, and (ii) 5.8 million "hard dollar" share units ("HD Units") at an issue price of C$0.045 per unit, (the "Offering"), to raise gross proceeds of up to $1,011,000 from the sale of FT Units and HD Units, or any combination thereof.  Each FT Unit and HD Unit will consist of one common share and one-half of a common share purchase warrant.   Each whole common share purchase warrant will entitle the holder to purchase one common share of the Company for a period of two years at an exercise price of $0.065. Alamos Gold (AGI-TSX) has indicated that it intends to participate in the financing to maintain its pro-rata holding of approximately 27.9% of Orford's outstanding common shares.