Opawica Explorations Update!
Huge News From Opawica!
ancouver, B.C. – TheNewswire – June 1, 2021 – Opawica Explorations Inc. (the “Company”) (TSXV:OPW) is pleased to announce that due to tremendous investor interest, the Company has increased the size of its private placement (the “Offering”) first announced on May 12, 2021 from $4,000,000 to $5,010,500. The Company anticipates that it will sell 8,363,750 non flow-through units (“NFT Units”) priced at $0.40 for gross proceeds of $3,345,500 and 3,330,000 flow-through units (“FT Units”) priced at $0.50 for gross proceeds of $1,665,000. Each NFT Unit consists of one common share and one-half of one share purchase warrant, with each whole warrant exercisable into one further common share at a price of $0.60 for a term of two years. Each FT Unit consists of one flow-through common share and one half of one share purchase warrant, with each whole warrant exercisable into one further common share at a price of $0.60 for a term of two years.
The Company closed the First Tranche of the Offering on May 31, 2021 for gross proceeds of $3,129,500 and expects to close the Final Tranche of the Offering on June 4, 2021. The Offering is subject to the acceptance of the TSX Venture Exchange.
About Opawica Explorations Inc.
Opawica is a Canadian mineral 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.