Consolidated Oasis Resources (ME) and Orient Resources (ME) have concluded a financing agreement with Oasis/Orient (1992) Mining Exploration partnership and Soquem.
Under the agreement, the partnership will offer 320-1,200 flow-through units at $1,000 per unit. If entirely subscribed, the offering will net $1.2 million. Soquem will subscribe to $80,000-300,000 of common shares of Oasis and Orient on an equal basis. The Soquem subscription will amount to 25% of the public offering.
Proceeds of the placement, totalling up to $1.5 million, will be used to conduct exploration on the Oasis Tiblemont copper-nickel property, and Orient’s Nelligan-Center, Benoist-West and Vauquelin-Exxeter gold properties.
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