An anonymous director reports
OMEGA PACIFIC CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Omega Pacific Resources Ltd. has closed a first tranche of its non-brokered private placement, previously announced on March 11, 2026. The first tranche has resulted in the sale of 5,766,715 flow-through (FT) units at an amended price of 21 cents per FT unit for gross proceeds of $1,211,010, and 1,885,000 non-flow-through (NFT) units at a price of 20 cents for gross proceeds of $377,000. The gross proceeds from the sale of FT units will be used for a planned exploration program on the Williams property, located on the Williams property in British Columbia's Toodoggone district. The net proceeds from the sale of the units will be utilized for general working capital.
Each FT unit consists of one flow-through common share and one-half of a share purchase warrant. Each FT unit warrant is exercisable into one additional common share at a price of 30 cents per share for 18 months from issue, subject to earlier expiry in the event that the closing price of the common shares exceeds 55 cents for 15 consecutive trading days. Each unit consists of one non-flow-through common share and one-half of a share purchase warrant. Each unit warrant is exercisable into one additional common share at a price of 30 cents per share for 24 months from issue, subject to earlier expiry in the event that the closing price of the common shares exceeds 50 cents for 15 consecutive trading days.
In connection with the sale of the units and FT units, the company paid a total of $26,999 in cash and issued 116,782 finders' warrants to eligible finders for certain of the units and/or FT units sold. The finders' warrants issued pursuant to the sale of FT unit are exercisable at a price of 21 cents per common share for 18 months from the date of issuance, subject to earlier expiry in the event that the closing price of the common shares exceeds 55 cents for 15 consecutive trading days. The finders' warrants issued pursuant to the sale of unit are exercisable at a price of 20 cents per common share for 24 months from the date of issuance, subject to earlier expiry in the event that the closing price of the common shares exceeds 50 cents for 15 consecutive trading days.
All securities issued are subject to a hold period of four months and one day from the date of issuance.
The flow-through shares will qualify as flow-through shares for the purposes of the Income Tax Act (Canada). The proceeds of the flow-through private placement will be used to incur Canadian exploration expense (within the meaning of the act). The company will renounce these expenses to the purchasers with an effective date of no later than Dec. 31, 2026, and as required under the act.
Omega Pacific anticipates closing a second tranche of the offering in the near term.
Williams exploration strategy
The GIC prospect at the Williams property hosts a robust, bulk-tonnage gold system. Two thousand twenty-six exploration programs will focus on expanding known mineralization along a drill confirmed 750 strike length, in an eastward and updip direction from 2024 drill collars. All four 2024 drill holes intersected bulk-tonnage and localized high-grade gold mineralization in multiple zones. WM24-01 intersected 1.69 grams per tonne (g/t) gold (Au) over 104 metres (m), including 6.22 g/t Au over 18.98 m, and WM22-02ext returned 2.16 g/t Au over 96.92 m, including 4.6 g/t Au over 10.5 m. Mineralization is open in all directions and GIC represents a prospective target distancing over 12 kilometres (km). More information will be further detailed as programs commence.
About Omega Pacific Resources Ltd.
Omega Pacific is a Canadian mineral exploration company focused on the discovery and development of precious metal projects in British Columbia. The company also continues to evaluate prospective assets domestically and internationally. With a talented technical team, Omega Pacific is commitment to responsible exploration with judicious use of capital.
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