12:54:12 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Opawica Explorations Inc (7)
Symbol OPW
Shares Issued 11,558,100
Close 2024-04-22 C$ 0.065
Market Cap C$ 751,277
Recent Sedar Documents

Opawica Explorations arranges $600,000 financing

2024-04-23 12:05 ET - News Release

Mr. Blake Morgan reports

OPAWICA EXPLORATIONS ANNOUNCES PRIVATE PLACEMENT

Opawica Explorations Inc. has arranged private placement offering to raise total gross proceeds of up to $600,000.

Opawica intends to undertake a non-brokered private placement of up to 12 million units of securities of the company at a purchase price of five cents per unit for aggregate gross proceeds of $600,000. Each unit will comprise one common share of the company and one whole common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at an exercise price of 10 cents at any time up to 24 months following issuance. Proceeds will be used for general working capital.

Insiders may participate in the placement and, as such, their participation in the private placement is a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Any participation by insiders in the offering will constitute a related party transaction under MI 61-101, but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

Finders' fees in connection with the offering may be payable in accordance with the policies and subject to the approval of the TSX Venture Exchange. All shares issued in connection with the offering will be subject to a statutory hold period of four months and one day after the closing of the offering. The completion of the offering is also subject to the approval of the TSX-V.

About Opawica Explorations Inc.

Opawica Explorations is a junior Canadian exploration company with a strong portfolio of precious metal and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec. 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.

We seek Safe Harbor.

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