Opawica Explorations Inc. Announces Appointment of Mr. David Taylor as President, Chief Executive Officer and Director
Vancouver, September 11, 2017 - Opawica Explorations Inc. (TSXV: OPW) (the "Company") announces the appointment of Mr. David Taylor as President, Chief Executive Officer and a Director of the Company. Mr. Taylor has over 25 years experience in financial markets in Asia, the USA and Canada. His experience includes securing finance personnel in Tokyo and the recruiting of executives for firms such as Morgan Stanley, JP Morgan, Credit Suisse and Goldman Sachs.
He has held positions with Thomson Reuters (Tokyo) in marketing US software products to clients such as The Bank of Japan, LTCM (Tokyo), and Bank of Tokyo-Mitsubishi, as well as Private Equity benchmarking contract with the Japanese government, Ministry of Economy, Trade and Industry.
Mr. Taylor has worked in San Francisco, CA, where he managed relationships with Private Equity Firms in the Western USA, focused on Californian Venture Capitalists. In 1996, Mr. Taylor and his team launched the first Venture Capital database for the US National Venture Capital Association (NVCA), and he was instrumental in the research and coordination of clients such as Intel Capital, In-Q-Tel, Accel Partners, Kleiner Perkins, and Microsoft Ventures.
Mr. Taylor was a member of a boutique provider of alternative asset management applications for domestic and international institutions and family offices. His clients included the Rockefeller Foundation, CALPERS, CALSTERS, UTIMCO, Princeton University, Stanford University, Cascade Investments (Bill and Melinda Gates Foundation), MSD Capital (Michael Dell), Mousse Capital (Chanel Family) and the Hewlett Foundation.
In 2007, Mr. Taylor founded a financial advisory service which evolved into an Exempt Market Dealer (EMD), one of the first in British Columbia. Using this EMD platform he conducted financings and marketing Canadian junior companies in the resource and technology sectors. He holds a BBA in Business Administration from Simon Fraser University.
Mr. Ferdynand (Fred) Kiernicki has resigned as President and Chief Executive Officer but will remain as a director and exploration contractor of the Company.
The Company has allocated 1,019,000 incentive stock options to directors and consultants of the Company that are exercisable at $0.07 per share for a one year term, in accordance with the Company's stock option plan.
PRIVATE PLACEMENT
Pursuant to the Company's proposed private placement to raise gross proceeds of up to $1,200,000 that was announced on August 15, 2017, the Company announces an amendment to the allocation of units proposed to be issued. The Company proposes to raise up to $800,000 through the sale of up to 16,000,000 non flow-through units priced at $0.05 (the "NFT Units") and up to $400,000 through the sale of up to 5,000,000 flow-through units priced at $0.08 (the "FT Units"). Each NFT Unit consists of one common share and one half of a share purchase warrant, with each whole warrant (the "Warrant") exercisable into one further common share at a price of $0.10 for a term of one year. Each FT Unit consists of one flow-through common share and one half of a share purchase warrant, with each whole Warrant exercisable into one further common share at a price of $0.10 for a term of one year.
The Warrants will contain an accelerated expiry clause such that, in circumstances where the closing price of the shares of the Company on the TSX Venture Exchange is $0.15 or greater for a 20 day consecutive trading period, they will expire if not exercised 14 days following the 20 day trading period. The accelerated expiry clause will be in effect after the initial four month hold period has elapsed.
ABOUT OPAWICA EXPLORATIONS INC.
Opawica Explorations Inc. is a junior resource company engaged in the acquisition, exploration and evaluation of gold and base metal mineral properties in Canada. The Company owns 100% interest subject to certain royalties in the Bazooka gold property located in the Beauchastel Township approximately seven kilometres southwest of Rouyn-Noranda, Quebec. The Bazooka property comprises seven contiguous kilometres of strike length along the prolific Abitibi Gold Belt on the Cadillac Larder Lake Break. The eastern border of the Bazooka gold property adjoins Yorbeau Resources Inc.'s ("Yorbeau") Rouyn property that is actively being explored by Kinross Gold Corp. under an option agreement (see Yorbeau press release dated October 25, 2016). The western border of the Bazooka gold property adjoins Richmont Mines Inc.'s Wasamac gold property (~3 million ozs Au resources). The Company also holds 100% interest in the McWatters gold property which is contiguous to the eastern border of Yorbeau's Rouyn property, and the Arrowhead gold property in the Joannes Township, Quebec.
For more information, please visit the Company's website at www.opawica.com.
FOR FURTHER INFORMATION CONTACT:
David Taylor
President and Chief Executive Officer
Opawica Explorations Inc.
Mobile: 778-318-8186
Email: david@opawica.com
Head Office
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 TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
