Opawica Explorations Inc. Closes Private Placement
Vancouver, June 6th, 2024 - Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the "Company" or "Opawica") is pleased announce that further to its news releases of April 23rd, 2024, the Company has completed its non-brokered private placement for total gross proceeds of $600,000 (the "Offering"). The Company would like to thank its supporting investors and shareholders. Opawica intended to undertake and completed a non-brokered private placement (the "Private Placement") of up to 12,000,000 million units of securities of the Company ("Units") at a purchase price of $0.05 per Unit for aggregate gross proceeds of $600,000. Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one whole Common Share purchase Warrant. Each whole warrant will entitle the holder to purchase one additional Common Share (a "Warrant Share") at an exercise price of $0.10 at any time up to 24 months following issuance. The Common Shares will have a release of four (4) months and one (1) day, following date of issuance, being October 6, 2024.
The Company further announces it has cancelled 416,940 stock options and has granted 2,200,000 stock options. The Company has granted a total of 2,200,000 incentive stock options exercisable at $0.10 per share expiring June 5th, 2026, to directors, officers, and consultants of the Company. The stock options are subject to the acceptance of the TSX Venture Exchange.
About Opawica Explorations Inc.
Opawica Explorations is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec, and in central Newfoundland and Labrador. 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.
FOR FURTHER INFORMATION CONTACT
Blake Morgan
President and Chief Executive Officer
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. Forward-Looking Statements This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Copyright (c) 2024 TheNewswire - All rights reserved.
