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Omineca Announces $3 Million Private Placement Financing to Accelerate and Expand its Gold Exploration Drill Program on the Wingdam Project
Omineca Announces $3 Million Private Placement Financing to Accelerate and Expand its Gol...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"Omineca-PrivPlacemnt\n \n \n \n Omineca Announces $3 Million Private Placement Financing to Accelerate and Expand its Gold Exploration Drill Program on the Wingdam Project\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n SASKATOON, SK, Sept. 28, 2020\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n SASKATOON, SK\n \n ,\n \n Sept. 28, 2020\n \n /CNW/ - Omineca Mining and Metals Ltd. (TSXV: OMM) (\"\n \n Omineca\n \n \" or the \"\n \n Company\n \n \"), announces that it has entered into an agreement with Mackie Research Capital Corporation, as sole agent and sole bookrunner (the \"\n \n Agent\n \n \"), in connection with a best efforts private placement for aggregate gross proceeds of up to\n \n $3,000,000\n \n (the \"\n \n Offering\n \n \"), in a combination of: (i) units of the Company (the \"\n \n Units\n \n \") at a price of\n \n $0.40\n \n per Unit, and (ii) \"flow-through\" common shares of the Company (within the meaning of the\n \n Income Tax Act (\n \n Canada\n \n )\n \n (the \"\n \n FT Common Shares\n \n \") with respect to \"Canadian exploration expenses\", at a price of\n \n $0.45\n \n per FT Common Share.\n \n \n Each Unit will be comprised of one common share of the Company (a \"\n \n Common Share\n \n \") and one-half of one Common Share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \"). Each Warrant shall be exercisable to acquire one Common Share (a \"\n \n Warrant Share\n \n \") at a price of\n \n $0.48\n \n per Warrant Share for a period of 24 months from the closing of the Offering.\n \n \n The Company intends to use the net proceeds from the Offering for its ongoing exploration drilling program, working capital requirements and other general corporate purposes. The primary focus of Omineca's lode gold exploration program at the Wingdam gold project is locating the presumed multiple bedrock sources of placer gold recovered by Omineca in the 2012 underground bulk s...