Oracle Commodity increases private placement to $280,000

Oracle Commodity Holding Corp. (TSXV: ORCL) (OTCQB: ORLCF) has increased its non-brokered private placement financing to 8,000,000 units at $0.035 per unit, raising potential gross proceeds to $280,000, the company announced.

The offering was initially announced on September 24 for 7,500,000 units and was previously upsized on September 26. Each unit consists of one common share and one transferable warrant allowing the purchase of an additional share at $0.06 for three years from issuance.

The company will pay finder's fees of up to 7% in finder's units, each containing one share and one non-transferable warrant with the same exercise terms. Company insiders plan to subscribe for up to 1,750,000 units for gross proceeds of up to $61,250.

Oracle intends to use net proceeds for general corporate purposes and to pay cash consideration for acquiring a 2% royalty from U.S. Fluorspar LLC over certain fluorspar projects, as previously announced on August 12.

The units will be issued under exemptions from prospectus requirements and subject to a statutory hold period of four months and one day. Closing requires regulatory approvals including from the TSX Venture Exchange.

Oracle Commodity Holding Corp. operates as a mining royalty company holding royalties on precious metal and critical mineral mining projects.

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