OPW:CC - Opawica Announces Share Consolidation
(TheNewswire)
Vancouver, B C - TheNewswire - February 15, 2023 - Opawica Explorations Inc. (TSXV:OPW ) ( FSE:A2PEAD)(OTC:OPWEF ) (the “ Company ” or Opawica ”) announcesthat by a resolution of the Board of Directors of the Company passedas effective February 15th, 2023, the Directors have authorized theconsolidation of the issued and outstanding common shares of theCompany on a basis of one (1) new common share for every ten (10)existing common shares (the "Share Consolidation").Currently, there are 51,781,041 common shares issued and outstandingand following the Share Consolidation, 5,178,104 common shares will beissued and outstanding. It is anticipated that the Share Consolidationwill be implemented as soon as practicable.
The Board of Directors is proceeding with the ShareConsolidation on the basis that it will provide the Company withincreased flexibility to seek additional financing opportunities andstrategic acquisitions. The Share Consolidation is subject to theacceptance of the TSX Venture Exchange. The Company's name and stocksymbol will remain unchanged following the Share Consolidation.
About Opawica Explorations Inc.
Opawica Explorations Inc. is a junior Canadianexploration company with a strong portfolio of precious and base metalproperties within the Rouyn-Noranda region of the Abitibi Gold Belt inQuébec and in Central Newfoundland and Labrador. The Company’smanagement has a great track record in discovering and developingsuccessful exploration projects. The Company’s objective is toincrease shareholder value through the development of explorationproperties using cost effective exploration practices, acquiringfurther exploration properties, and seeking partnerships by eitherjoint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT
Blake Morgan
President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its RegulationService Provider (as the term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy of accuracyof this news release.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, including the proposed share consolidation, which relateto future events or future performance and reflect management’scurrent expectations and assumptions. Suchforward-looking statements reflect management’s current beliefs andare based on assumptions made by and information currently availableto the Company. Readers are cautioned that these forward-lookingstatements are neither promises nor guarantees and are subject torisks and uncertainties that may cause future results to differmaterially from those expected including, the receipt of necessaryregulatory approvals (which are further subject to minimumdistribution requirements). There is no guarantee that the Companywill obtain the approval of the TSX Venture Exchange for theconsolidation, or that the consolidation will be completed at theratio proposed or at all. All the forward-looking statements made inthis news release are qualified by these cautionary statements andthose in our continuous disclosure filings available on SEDAR atwww.sedar.com. These forward-looking statements are made as of thedate hereof and the Company does not assume any obligation to updateor revise them to reflect new events or circumstances save as requiredby applicable law.
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