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Orion Mine Finance Provides Update of its Ownership of Common Shares of Doré Copper Mining Corp.

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TORONTO, Oct. 27, 2020 /CNW/ - Orion Mine Finance announced today an update in respect of its ownership of common shares ("Common Shares") of Doré Copper Mining Corp ("Doré") held by OMF Fund II (Be) Ltd., a company managed by Orion Mine Finance Management II Limited (collectively "Orion").

As a result of a prior equity issuance by Doré in which Orion did not participate (the "Company Issuance"), Orion's ownership interest in Doré was diluted below 10% of the then issued and outstanding Common Shares, on a partially-diluted basis assuming the exercise in full of its Common Share purchase warrants ("Warrants"). On October 26, 2020, Orion sold 8,500 Common Shares through the facilities of the TSX Venture Exchange at a price per Common Share of C$0.7118 and for C$6,050.30 in total (the "Transaction"). The Transaction was Orion's first acquisition or disposition of securities of Doré since the Company Issuance. Immediately prior to the Transaction, Orion owned 2,804,300 Common Shares and 144,230 Warrants, representing approximately 9.28% of the issued and outstanding Common Shares calculated on a partially-diluted basis (assuming exercise in full of its Warrants and based on there being 31,637,668 Common Shares issued and outstanding). Immediately following the Transaction, Orion owned 2,795,800 Common Shares and continued to own 144,230 Warrants, representing a securityholding percentage of approximately 9.25% calculated on a partially-diluted basis, which is a decrease of 0.03% in its securityholding percentage in the Common Shares (assuming exercise in full of its Warrants and based on there being 31,637,668 Common Shares issued and outstanding). Prior to both the Company Issuance and the Transaction, Orion disposed of an additional 324,161 Common Shares. Since the date of its last early warning report in respect of the Common Shares, Orion's securityholding percentage in the Common Shares has decreased from approximately 12.66% to approximately 9.25%, which is a decrease of 3.41% in its securityholding percentage in the Common Shares (assuming exercise in full of its Warrants and based on there being 31,637,668 Common Shares issued and outstanding).

Orion's disposition of the Common Shares in the Transaction was made in the ordinary course of its business operations. Orion continues to evaluate its holdings in Doré, including potentially disposing of additional securities of Doré in the ordinary course of business, but has no current plan or intentions to undertake any of the other actions requiring disclosure under the early warning reporting provisions of applicable securities laws. Depending on market conditions, Orion's view of Doré's prospects and other factors Orion considers relevant, Orion may acquire securities of Doré from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of Doré.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of Doré at www.sedar.com. To obtain a copy of the early warning report, you may also contact Rick Gashler, Chief Compliance Officer of Orion Resource Partners (USA) LP at 212-596-3497. Orion's address is Cumberland House, 7th Floor, 1 Victoria Street, Hamilton HM11, Bermuda. Doré's head office is located at 130 King Street West, Suite 1800, Toronto, Ontario, M5X 1E3. Orion's ownership of securities of Doré is now below the reporting threshold prescribed by applicable securities laws.

Forward-Looking Information

Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to Orion's future intentions regarding the securities of Doré. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Orion is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Orion Mine Finance Management II Limited

Cision View original content: http://www.newswire.ca/en/releases/archive/October2020/27/c6718.html

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