ORIENTAL MINERALS INC
TSX Venture News: Investor Alert for Shareholders of Oriental Minerals Inc 1/2/2007
Jan 02, 2007 (M2 PRESSWIRE via COMTEX News Network) -- Investor Alert for Shareholders of Oriental Minerals Inc (TSX.VTL)
ORIENTAL MINERALS INC. is a mining and investment holding company.
Shares were up 5% after announcing an increase to its non-brokered private placement of to up to 7,500,000 Units.
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Oriental Minerals Inc.is pleased to announce an increase to its non-brokered private placement of to up to 7,500,000 Units at a price of $1.28 per Unit for total gross proceeds of up to $9,600,000, as announced December 5th, 2006.
The Units consist of one common share and one-half of a share purchase warrant, with each warrant exercisable for $1.60 for another 18 months from the closing date of the private placement. A finder\'s fee in accordance with Exchange guidelines may be payable on this financing.
Proceeds from the private placement will be used to fund planning and the current phases of work on the projects in South Korea, additional project acquisitions, and working capital.
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