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Omineca Announces Upsize of Private Placement to Up to $4.4 Million
Omineca Announces Upsize of Private Placement to Up to $4.4 Million Canada News...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"\n \n \n \n Omineca Announces Upsize of Private Placement to Up to $4.4 Million\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, Nov. 12, 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 Nov. 12, 2020\n \n /CNW/ - Omineca Mining and Metals Ltd. (TSXV: OMM) (\"\n \n Omineca\n \n \" or the \"\n \n Company\n \n \"), is pleased to announce that, due to strong investor demand, it has agreed with Mackie Research Capital Corporation, as lead agent and sole bookrunner (the \"\n \n Agent\n \n \"), to increase the size of the previously announced and amended best efforts private placement for gross proceeds of up to\n \n $4,400,000\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 $0.28\n \n per Unit, and (ii) flow-through units of the Company (the \"\n \n FT Units\n \n \") at a price of\n \n $0.30\n \n per FT Unit.\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 FT Unit shall consist of one \"flow-through\" common share of the Company (within the meaning of the\n \n Income Tax Act (\n \n Canada\n \n )\n \n (each, a \"\n \n FT Common Share\n \n \") and one-half of one Warrant. Each Warrant shall be exercisable to acquire one Common Share (a \"\n \n Warrant Share\n \n \") at a price of\n \n $0.35\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 Ominec...