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Omega Pacific Resources Inc
Symbol OMGA
Shares Issued 22,395,101
Close 2024-03-27 C$ 0.70
Market Cap C$ 15,676,571
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Omega Pacific arranges $3-million private placement

2024-03-27 20:42 ET - News Release

Mr. Jason Leikam reports

OMEGA PACIFIC RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT

Omega Pacific Resources Inc. intends to complete a non-brokered private placement consisting of up to six million common shares of the company at a price of 50 cents per common shares for gross proceeds of up to $3-million.

The company intends to use the net proceeds raised from the offering for exploration of the company's Lekcin and Williams properties, Williams property option agreement cash commitments, and for general working capital purposes. The company will pay finders' fees to eligible finders in connection with the private placement, subject to compliance with applicable securities laws and the Canadian Securities Exchange (the CSE) policies. All securities issued in the private placement will be subject to a statutory four-month-plus-one-day hold period. Closing of the private placement is subject to receipt of all required regulatory approvals, including approval from the CSE. The private placement is expected to close on or about April 2, 2024. The company may elect to increase the size of the private placement.

The common shares will be offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. Directors and officers of the company may acquire securities under the private placement, which will be considered a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-10"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

About Omega Pacific Resources Inc.

Omega Pacific is a mineral exploration company focused on the development of mineral projects containing base and precious metals.

We seek Safe Harbor.

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