(the “Company”) ( ) is pleased to announce that due to tremendous investor interest, the Company has increased the size of its private placement (the “Offering”) first announced on May 12, 2021 from $4,000,000 to $5,010,500. The Company anticipates that it will sell 8,363,750 non flow-through units (“NFT Units”) priced at $0.40 for gross proceeds of $3,345,500 and 3,330,000 flow-through units (“FT Units”) priced at $0.50 for gross proceeds of $1,665,000. Each NFT Unit consists of one common share and one-half of one share purchase warrant, with each whole warrant exercisable into one further common share at a price of $0.60 for a term of two years. Each FT Unit consists of one flow-through common share and one half of one share purchase warrant, with each whole warrant exercisable into one further common share at a price of $0.60 for a term of two years.
The Company closed the First Tranche of the Offering on May 31, 2021 for gross proceeds of $3,129,500 and expects to close the Final Tranche of the Offering on June 4, 2021. The Offering is subject to the acceptance of the TSX Venture Exchange.
Opawica is a Canadian mineral exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec and in Central Newfoundland and Labrador. The Company’s management has a great record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
President and Chief Executive Officer
Disclaimer for Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, and Exchange approval of the proposed Offering. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The post appeared first on Increases Offering To $5 MillionInvesting News Network.
Marvel Discovery $MARV.V – An Exciting #Gold, #uranium, #copper, #nickel, #PGE, #REE & (Possibly) #LITHIUM Play
It’s been a terrible year for junior mining stocks. Hell, it’s been a terrible year for bonds, cryptocurrencies & industry-leading tech stocks…
Analyst Sees ‘Opportunity’ in Golden Triangle Project
Source: Streetwise Reports 11/03/2022
A Haywood Securities analyst initiates coverage on Dolly Varden Silver Corp., saying "now is the right…
Sibanye-Stillwater $SBSW to Restructure Operations With Depleting SA Gold Reserves
SIBANYE-Stillwater may retrench up to 1,959 employees from its South African gold operations following an announcement today it had started restructuring…
Noble Mineral: Exploration Update – Geophysical Crews Mobilized to Kidd Creek Project, Timmins, Ontario
Five Top Ways to #invest in #Nickel’s Expected Fourfold Growth – $PNPN.V $BHP $GLNCY $VALE $SOUHY
Kesselrun intersects 4.6 g/t gold over 6.6 metres at Huronian project, Ontario
Fortuna Silver Mines Inc. (NYSE: FSM) Prices Could Soar To Much Higher Levels In Coming Months
Sokoman intersects 56.67 g/t gold over 1.01 metres at Moosehead, Newfoundland
All of the World’s Money and Markets in One Visualization (2022)
Black Dragon strikes gold at Padbury
A Peek At What Kinross Gold Corporation (KGC) Insiders Are Doing
Is Pan American Silver Corp. (NASDAQ: PAAS) Stock Set To Rise More?
The New Cold War Has Begun
Companies15 hours ago
Central Banks are Buying Gold at the Fastest Pace on Record
News Releases16 hours ago
OROCO EXPANDS NORTH ZONE DRILLING
Base Metals15 hours ago
Goldman Sachs Statements on Lithium Prices Depart from Reality
Uncategorized21 hours ago
The European Union’s Misguided Energy Price Cap Proposal
Financing News16 hours ago
Robex: Kiniero Gold District Mansounia Central Exploration Results Including [email protected] g/t from Surface & [email protected] g/t from 3m
News Releases16 hours ago
PolyMet Mining $PLM Releases NI 43-101 Technical Report on Mesaba #copper-#Nickel-PGM Deposit
Precious Metals15 hours ago
In 2023 “Gold Will Come Out Ahead” — With Mike McGlone
News Releases17 hours ago
First Majestic Announces the Proposed Sale of Its Royalty Portfolio for US$20.0 Million