| Vancouver, BC, April 23, 2024. Origen Resources Inc. (the “Company” or “Origen”) (CSE:ORGN; FSE:4VXA) is pleased to announce that it has entered into an agreement with Nickelex Resources Corporation (“Nickelex”) (TSXV: NICK) to sell a 100% interest in its Arlington project located 17km north of Beaverdell in south-central British Columbia. The Arlington Agreement, which is subject to Regulatory Approval provides that Nickelex may earn a 100% interest in the Arlington Property by meeting the following obligations to Origen, all by the first anniversary of Regulatory Approval: Making cash payments totaling $130,000 ($30,000 of which is reimbursement of costs associated with the Bond posted in regards to the current drill permit to be assigned to Nickelex); Incurring exploration expenditures of $250,000 on the Arlington Property; and Issuing shares to Origen valued at $200,000 within 7 days of Regulatory Approval; and issuing additional shares to Origen valued at $200,000, or 2 million shares, whichever is greater in aggregate value, by the first anniversary of Regulatory Approval. Origen will retain a royalty of 2% of net smelter returns, provided that Nickelex may purchase 1% of such royalty at any time for a one-time payment of $1,000,000. “Entering into the Arlington agreement is another step towards our goal of monetizing the Company’s assets. The Origen Team is happy to see this asset move to a group with a proven track record of advancing projects and we are excited to be a significant shareholder moving forward,” states Gary Schellenberg, CEO. Stock Option Grant Origen wishes to announce that it has granted incentive stock options of the Company to its officers, directors, advisors and consultants for the right to purchase up to an aggregate of 1,100,000 common shares of the Company, exercisable at the price of $0.05 per share for five (5) years. The effective date of the grant of option is April 23, 2024. The stock options granted will be in accordance with the Company’s Stock Option Plan and will have the required four-months hold period legend, pursuant to the Policies of the CSE and regulatory authorities. On behalf of Origen, Thomas Hawkins Managing Director For further information, please contact Gary Schellenberg, Chief Executive Officer, at 604-681-0221. |
8th Annual Nation2Nation – First Nations Business Forum
The Nation2Nation Forums provides First Nations leaders the opportunity to outline how Industry and Government can help address Economic, Environmental, Social and Indigenous Rights issues while working in partnership […]
