Oracle Commodity Holding closes $280,000 private placement

Oracle Commodity Holding Corp. (TSXV: ORCL) (OTCQB: ORLCF) announced the completion of a non-brokered private placement that raised $280,000 in gross proceeds. The company issued 8 million units at $0.035 per unit.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at $0.06 per share for three years from the issuance date.

A company director and officer participated in the offering, purchasing 1.75 million units for $61,250. This insider participation constitutes a related-party transaction under Multilateral Instrument 61-101, though the company is exempt from formal valuation and minority shareholder approval requirements since the fair-market value of securities issued to insiders does not exceed 25% of the company's market capitalization.

The company plans to use proceeds for working capital and general corporate purposes. The securities are subject to a four-month and one-day regulatory hold period. No finder's fees were paid in connection with the placement.

Oracle Commodity Holding specified that none of the proceeds will fund the cash consideration for acquiring a 2% royalty from U.S. Fluorspar LLC over certain fluorspar projects until the TSX Venture Exchange approves that transaction. The acquisition remains subject to TSXV approval, which may require a valuation opinion or disinterested shareholder approval.

The company operates as a mining royalty company holding royalties on precious metal and critical mineral mining projects. The private placement was previously disclosed on September 24, September 26, and October 9.

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