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Orex Minerals Inc. has completed a non-brokered private placement, issuing 30,303,030 units at a price of $0.165 per share, raising $5 million. Each unit consists of one common share and one warrant, which can be exercised within 24 months at a price of $0.22 per share. Notably, investor Eric Sprott subscribed for 3,030,300 units at a price of $500,000, increasing his (undiluted) ownership stake to approximately 9.7%. The net proceeds will be used for exploration of the Jumping Josephine project, paying taxes, general reserves, and company operating expenses.