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Omineca Mining and Metals Closes Expanded $550,000 Financing
Omineca Mining and Metals Closes Expanded $550,000 Financing Canada NewsWire SAS...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"\n\n\n\nOmineca Mining and Metals Closes Expanded $550,000 Financing\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\nCanada NewsWire\nSASKATOON, SK, April 18, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n SASKATOON, SK, April 18, 2019 /CNW/ - Omineca Mining and Metals Ltd. (TSXV: OMM) (\"Omineca\" or the \"Company\") has closed its non-brokered private placement announced on March 14, 2019 and increased on April 11, 2019, for gross proceeds of $550,000.\nAt the first and final closing, Omineca issued 11,000,000 units at a price of $0.05 per unit.  Each unit consists of one common share in the capital of the Company and one common share purchase warrant.  Each warrant entitles the holder to acquire one common share at a price of $0.10 for a period of 24 months. The securities issued under this private placement are subject to a statutory four-month hold period, ending August 18, 2019.\nThe financing proceeds will be used toward the transaction costs for the bulk sampling program announced on March 1, 2019, development and planning of the 2019 hard-rock exploration program and for general working capital purposes.\nPursuant to available related party exemptions under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions, insiders of the company subscribed for 3,152,000 units. Cash finder' s fees were paid on the proceeds from the closing in the amount of $400.\nAbout Omineca Mining and Metals Ltd.\nOmineca Mining and Metals Ltd. controls a 100% interest in the Wingdam Project through its wholly owned subsidiary CVG Mining Ltd.  The 2700 ha Wingdam Project is located 45 km east of Quesnel B.C. on the Barkerville highway.  The property includes both placer and hard-rock tenures along the Lightning Creek valley, where topographic conditions created a thick overburden  which  preserved a large portion of the channel from conventional surface placer mining activity.\nThis news release does not constitute an offer to sell, or the solicitat...