Mines D’Or Orbec Inc. (TSX-V: BLUE) is pleased to announce it has closed the second tranche of the upsized $1,500,000 non-brokered private placement which was the subject of its news releases dated October 21 and 23 and November 5, 2024.

In the second tranche closing, the Company sold (i) 4,563,181 common shares of the Company that qualify as “flow-through shares” at a price of $0.055 per FT Share and (ii) 10,120,000 units of the Company at a price of $0.05 per HD Unit, each HD Unit consisting of one common share of the Company and one share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $0.055 per HD Warrant Share for a period of three years following closing. The aggregate gross proceeds to the Company from the sale of FT Shares and HD Units in the second tranche closing totalled $756,975.

The Company paid a cash finder’s fee of $12,366 and issued a warrant to the finder in connection with the second tranche closing, which warrant is exercisable for 264,200 common shares of the Company at a price of $0.055 per Finder’s Warrant Share for a period of three years following closing.

The securities issued in the second tranche closing and any HD Warrant Shares and Finder’s Warrant Shares will be subject to a resale hold period ending on March 20, 2025.

A total of 11,872,725 FT Shares and a total of 16,940,000 HD Units were sold in both tranches of the Offering, for combined aggregate gross proceeds of $1,500,000.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Orbec

Orbec is a gold company that owns 100% of a large mineral claim position near Chibougamau, Québec. The Muus Gold Project covers approximately 25,250 hectares of prospective ground in the northeastern part of the Abitibi Greenstone Belt. The Muus Gold Project is prospective for gold mineralisation and is adjacent to and on strike with IAMGOLD’s multi-million ounce Nelligan Gold Project. Orbec has announced that exploration of the Muus Gold Project will advance in technical collaboration with IAMGOLD, a significant shareholder of the Company. Field work completed during 2022 established that the northern portion of the Muus Gold Project is also prospective for copper-gold volcanogenic massive sulphide mineralisation, as well as confirming that it is prospective for high-grade gold mineralization similar to IAMGOLD’s nearby Monster Lake gold deposit.