Agoracom: Small Cap Investment - Oremex Gold Inc. - Oremex Gold Funding Raised From $3M to $5M

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Oremex Gold Funding Raised From $3M to $5M - Good Sign

in response to

Oremex Commits to Increased "Pure Silver" Focus

Boot

posted on Mar 22, 2011 09:03AM

In the company's March 1 press release, it stated:

"The proposed spin-out will be accomplished through a transaction with a capital pool company (CPC) and the resulting issuer is expected to be renamed Oremex Gold Inc. Oremex Gold plans a concurrent $3 million equity financing via private placement."

Good to see that has now been bumped to $5M. Have to conclude demand was stronger than expected, which is a good sign.

I'm long Oremex Resources ... Soon to be Oremex Silver .... Which will own a significant chunk of Oremex Gold.