UPDATE: Orex Minerals Announces Proposed Spin Out; Stocks Rise 5%

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Orex Minerals Inc.'s (REX.V) Board of Directors and management are consulting with its legal and financial advisors to evaluate the merits of proceeding with a reorganization of its business that will separate Orex's advanced-stage Barsele Gold Project in Sweden from all of Orex's other mineral properties.

The company said it is expected that the proposed transaction will be completed through a shareholder-approved plan of arrangement that would result in shareholders receiving the shares of a new company and continuing to hold shares of Orex.

REX was up 5% to 62 cents, moving closer to year high $0.85.



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