OPW:CC - Opawica Explorations Announces Private Placement
(TheNewswire)
Vancouver, B.C. – TheNewswire - April 23 rd , 202 4 - OpawicaExplorations Inc. (TSXV:OPW) (FSE:A2PEAD) (OTC:OPWEF) (the " Company " or " Opawica ") ispleased to announce a proposed private placement offering to raisetotal gross proceeds of up to $600,000 (the “ Offering ”).
Opawica intends to undertake a non-brokered privateplacement (the " PrivatePlacement ") of up to 12,000,000 millionunits of securities of the Company (" Units ") at apurchase price of $0.05 per Unit for aggregate gross proceeds of$600,000. Each Unit will be comprised of one common share of theCompany (a " CommonShare ") and one whole Common Share purchaseWarrant with each whole warrant entitling the holder to purchase oneadditional Common Share (a " Warrant Share ") at an exercise price of$0.10 at any time up to 24 months following issuance. Proceeds will beused for general working capital.
Insiders may participate in the placement and, as such,their participation in the Private Placement is a related-partytransaction under Multilateral Instrument 61-101 Protection ofMinority Security Holders in Special Transactions. Any participationby insiders in the Offering will constitute a related partytransaction under Multilateral Instrument 61-101 - Protection ofMinority Security Holders in Special Transactions (“MI 61-101”)but is expected to be exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101.
Finders’ fees in connection with the Offering may bepayable in accordance with the policies and subject to the approval ofthe TSX Venture Exchange (“TSXV”). All Shares issued in connectionwith the Offering will be subject to a statutory hold period of fourmonths and one day after closing of the Offering. Completion of theOffering is also subject to the approval of the TSXV.
None of the securities sold in connection with theOffering will be registered under the United States Securities Act of1933, as amended, and no such securities may be offered or sold in theUnited States absent registration or an applicable exemption from theregistration requirements. This news release shall not constitute anoffer to sell or the solicitation of an offer to buy nor shall therebe any sale of the securities in any jurisdiction in which such offer,solicitation or sale would be unlawful.
About Opawica Explorations Inc.
Opawica Explorations is a junior Canadian explorationcompany with a strong portfolio of precious and base metal propertieswithin the Rouyn-Noranda region of the Abitibi gold belt in Quebec.The company's management has a great record in discovering anddeveloping successful exploration projects. The company's objective isto increase 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 INFORMATIONCONTACT
Blake Morgan
President and Chief Executive OfficerOpawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor itsRegulation Service Provider (as the term is defined in the policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy ofaccuracy of this news release. Forward-Looking Statements This newsrelease contains certain forward-looking statements, which relate tofuture events or future performance and reflect management’s currentexpectations and assumptions. Such forward-looking statements reflectmanagement’s current beliefs and are based on assumptions made byand information currently available to the Company. Readers arecautioned that these forward-looking statements are neither promisesnor guarantees, and are subject to risks and uncertainties that maycause future results to differ materially from those expectedincluding, but not limited to, market conditions, availability offinancing, actual results of the Company’s exploration and otheractivities, environmental risks, future metal prices, operating risks,accidents, labor issues, delays in obtaining governmental approvalsand permits, and other risks in the mining industry. All theforward-looking statements made in this news release are qualified bythese cautionary statements and those in our continuous disclosurefilings available on SEDAR at www.sedar.com. These forward-lookingstatements are made as of the date hereof and the Company does notassume any obligation to update or revise them to reflect new eventsor circumstances save as required by applicable law.
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