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Omineca Raises $1.5 Million with Closing of Rights Offering
Omineca Raises $1.5 Million with Closing of Rights Offering Canada NewsWire /...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"\n\n\n\n Omineca Raises $1.5 Million with Closing of Rights Offering\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\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 \n\n Nov. 27, 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 the closing of its previously announced rights offering. The Company received 17,402,933 subscriptions for units pursuant to the basic subscription privilege and an additional 20,680,447 subscriptions pursuant to the additional subscription privilege.  As such, a total of 38,083,380 units were purchased for gross proceeds of\n \n $1,523,335\n \n . The net proceeds of the offering will be used for the lode gold exploration and drilling program currently underway at the Wingdam project located in the Cariboo Mining District of south central\n \n British Columbia\n \n and for general corporate purposes.\n \n\n\n\n\n\n\n\n\n Each unit consists of one common share (a\n \n \"Common Share\"\n \n ) and one Common Share purchase warrant (a \"\n \n Warrant\n \n \"). Each Warrant is exercisable into one Common Share at a price of\n \n $0.07\n \n per share until\n \n 5:00 p.m.\n \n (Toronto Time) on\n \n November 26, 2027\n \n , subject to early expiry in the event the daily volume-weighted average trading price per Common Share for any 20 consecutive trading days in which there have been at least 100 Common Shares traded on the TSXV exceeds\n \n $0.10\n \n .\n \n\n Collectively, insiders subscribed for 2,236,666 Units pursuant to the basic subscription privilege and 1,083,334 Units pursuant to the additional subscription privilege.  Following the closing of the offering, Omineca will have 218,167,955 common shares issued and outstanding.\n \n\n The Rights Offering remains subject to the final acceptance of the TSXV.\n \n\n\n Ab...