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File: OPW NR 160225.doc
OPAWICA EXPLORATIONS INC. SIGNS PROPERTY PURCHASE AND SALE AGREEMENT AND ANNOUNCES PRIVATE PLACEMENT
Vancouver, B.C. - February 25, 2016 - Opawica Explorations Inc. (the "Company") (TSX.V: OPW) is pleased to announce th
--->at further to its news release of December 22, 2015, the Company has executed a purchase and sale agreement with Inves
--->tissements Gema Inc. ("Gema") for the Company to acquire a 100% interest, subject to retained royalties, in the Bazook
--->a, McWatters and Doyon-Bousquet claims (the "Properties") located in northern Quebec, Canada.
In order to purchase the Properties, the Company is to issue 3,870,000 common shares of the Company (the "Shares"), sa
--->id Shares to be issued on a post-consolidation basis, it being acknowledged that the Company is intending to consolida
--->te its current and outstanding share capital on a 4 old for 1 new basis (the "Consolidation"). The Shares will be sub
--->ject to a four month hold period under applicable securities laws. 1,000,000 of the Shares are to go to RT Minerals C
--->orp., a company with common directors to the Company.
A further condition to closing the sale of the Properties is the completion of a unit private placement to raise up to
---> $600,000 at a minimum price of $1,000.00 per unit (post Consolidation), with each unit comprised of 16,000 flow-throu
--->gh common shares, 4,000 non flow-through common shares, and 20,000 share purchase warrants exercisable at a minimum pr
--->ice of $0.05 for a term of five years (the "Offering"). Up to $480,000 of the Offering will consist of flow-through s
--->hares.
Closing of the transactions contemplated hereby is subject to approval by shareholders of the Company and TSX Venture
--->Exchange acceptance to the transactions contemplated hereby, provided that if any of the conditions set out herein are
---> not satisfied by April 30, 2016, the agreement shall terminate and be of no further force and effect.
The Company has set April 6, 2016 as the date of its Annual General Meeting.
FOR FURTHER INFORMATION CONTACT:
Fred Kiernicki
President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TS
--->X Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
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