Orford Closes $1.0 million Financing

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TORONTO, Nov. 15, 2023 /CNW/ - Orford Mining Corp. ("Orford" or the "Company") (TSXV:ORM.VN) is pleased to announce that it has closed on $1.0 million of its previously announced non-brokered private placement (the "Offering"). The Offering included: (i) 15.00 million in the aggregate "flow-through" share units ("FT Units") for an issue price of C$0.05 per unit, and (ii) 5.77 million "hard dollar" share units ("HD Units") for an issue price of C$0.045 per unit, to raise gross proceeds of $1,009,965.  Each FT Unit and HD Unit consists of one common share and one-half of a common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one common share of the Company for a period of two years at an exercise price of $0.065. A total of 10,388,500 warrants were issued in the Offering. Alamos Gold (AGI-TSX) participated in the financing to maintain its pro-rata holding of approximately 27.8% of Orford's outstanding common shares.