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Omineca Announces $2.4 Million Brokered Financing of Flow-Through Units to Expand the Lode Gold Drilling Program at Wingdam
Omineca Announces $2.4 Million Brokered Financing of Flow-Through Units to Expand the Lode Gold D...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"\n\n\n\n Omineca Announces $2.4 Million Brokered Financing of Flow-Through Units to Expand the Lode Gold Drilling Program at Wingdam\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n NOT FOR DISSEMINATION IN OR INTO\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES\n \n\n\n\n\n SASKATOON, SK\n \n\n ,\n \n\n Dec. 6, 2024\n \n\n /CNW/ - Omineca Mining and Metals Ltd. (\"\n \n Omineca\n \n \" or the \"\n \n Company\n \n \") (TSXV:OMM) (OTCQB: OMMSF) is pleased to announce that it has entered into an agreement with Research Capital Corporation as the sole agent and sole bookrunner (the \"\n \n Agent\n \n \") in connection with a brokered, best-efforts basis, private placement offering (the \"\n \n Offering\n \n \") of flow-through units of the Company (each, a \"\n \n FT\n \n\n Unit\n \n \") at a price of\n \n $0.055\n \n per FT Unit, for gross proceeds of up to\n \n $2,400,000\n \n .\n \n\n\n\n\n\n\n\n\n The gross proceeds will be used for the ongoing drilling and exploration program currently underway at Wingdam located in the Cariboo Mining District of south central\n \n British Columbia\n \n . The exploration program is aimed at locating the lode source of the rich placer gold found 50 meters underground, beneath Lightning Creek.  The host rock and mineralization resemble the gold-bearing vein type mineralization at the recently permitted, neighbouring Cariboo Gold Project operated by Osisko Development Corp.\n \n\n As a joint venture unrelated to the 100% owned hard rock exploration program, D&L Mining is currently assembling the tunneling crew and equipment to recommence the mining of placer gold bearing gravels within the underground paleochannel at Wingdam. The original 2019 joint venture agreement has been amended such that the Company will now pay D&L CDN\n \n $1,000\n \n per ounce of gold produced (previously CDN\n \n $850\n \n ), with D&L incurring all costs associated with the placer gold production.\n \n\n Each FT Unit shall be comprised of one common share of the Company (a \"\n \n Commo...