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Posted On: 11/25/2024 8:59:36 AM
Post# of 35596
$OPWEF $OPW.V Opawica Announces the Closing of Final Tranche of Oversubscribed Non-Brokered Private Placement
https://www.otcmarkets.com/otcapi/company/dns...79/content
November 25, 2024 – Vancouver, B.C.
Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the “Company” or “Opawica”), a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce the closing of the final tranche of its recently announced oversubscribed private placement (announced October 15, 2024). The offering consisted of 8,280,667 Units for total aggregate proceeds of CAD $1,242,100, with each Unit comprising one Common Share of the Company and one Common Share Purchase Warrant at a price of $0.15 per Unit.
Each Purchase Warrant is exercisable into one Common Share at an exercise price of $0.25 per share at any time up to 24 months following the closing date. The Company also retains a Warrant Acceleration option, allowing it to accelerate the expiry date of the Warrants if the daily trading price of the Common Shares on the TSX Venture Exchange exceeds $0.34 per Common Share for 10 consecutive trading days. All securities issued under the Offering, including Warrants, will be subject to a four-month holding period, ending March 15 and March 22, 2025.
As part of the closing, Opawica has compensated the finding agents with a commission of up to 8.0% cash, totaling $18,020, and up to 8.0% Purchase Warrants, totaling 120,133 Warrants, based on the gross proceeds of the Offering. Each Purchase Warrant is exercisable at $0.25 per share under the same terms as described above.
The Company intends to use a portion of the net proceeds to:
Advance drilling obligations on its flagship properties in the Abitibi Gold Belt.
Address administrative obligations.
Support general working capital purposes.
Fund marketing awareness initiatives.
The Private Placement remains subject to receipt of all required approvals, including final approval by the TSX Venture Exchange, as well as the execution of formal documentation.
Blake Morgan, CEO and President, stated:
“We have now completed our oversubscribed private placement with overwhelming interest from across the globe. I would like to thank the team and our shareholders for their support. With the placement now completed, we can focus on the most important part—drilling. With a large number of high-priority drill targets across our two flagship properties, Opawica Explorations is on the cusp of something special. We welcome shareholders to visit www.opawica.com and follow us on our journey.”
https://www.otcmarkets.com/otcapi/company/dns...79/content
November 25, 2024 – Vancouver, B.C.
Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTCQB: OPWEF) (the “Company” or “Opawica”), a Canadian mineral exploration company focused on precious and base metal projects, is pleased to announce the closing of the final tranche of its recently announced oversubscribed private placement (announced October 15, 2024). The offering consisted of 8,280,667 Units for total aggregate proceeds of CAD $1,242,100, with each Unit comprising one Common Share of the Company and one Common Share Purchase Warrant at a price of $0.15 per Unit.
Each Purchase Warrant is exercisable into one Common Share at an exercise price of $0.25 per share at any time up to 24 months following the closing date. The Company also retains a Warrant Acceleration option, allowing it to accelerate the expiry date of the Warrants if the daily trading price of the Common Shares on the TSX Venture Exchange exceeds $0.34 per Common Share for 10 consecutive trading days. All securities issued under the Offering, including Warrants, will be subject to a four-month holding period, ending March 15 and March 22, 2025.
As part of the closing, Opawica has compensated the finding agents with a commission of up to 8.0% cash, totaling $18,020, and up to 8.0% Purchase Warrants, totaling 120,133 Warrants, based on the gross proceeds of the Offering. Each Purchase Warrant is exercisable at $0.25 per share under the same terms as described above.
The Company intends to use a portion of the net proceeds to:
Advance drilling obligations on its flagship properties in the Abitibi Gold Belt.
Address administrative obligations.
Support general working capital purposes.
Fund marketing awareness initiatives.
The Private Placement remains subject to receipt of all required approvals, including final approval by the TSX Venture Exchange, as well as the execution of formal documentation.
Blake Morgan, CEO and President, stated:
“We have now completed our oversubscribed private placement with overwhelming interest from across the globe. I would like to thank the team and our shareholders for their support. With the placement now completed, we can focus on the most important part—drilling. With a large number of high-priority drill targets across our two flagship properties, Opawica Explorations is on the cusp of something special. We welcome shareholders to visit www.opawica.com and follow us on our journey.”
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