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Opawica Explorations Inc. Cancels Private Placement and Demobilizes Drill Program at Bazooka Property, Quebec
Vancouver, British Columbia--(Newsfile Corp. - September 22, 2017) - Opawica Explorations Inc....
About this update from Opawica Explorations Inc.
[{"type":"text","content":"Opawica Explorations Inc. Cancels Private Placement and Demobilizes Drill Program at Bazooka Property, QuebecVancouver, British Columbia--(Newsfile Corp. - September 22, 2017) - Opawica Explorations Inc. (TSXV: OPW) (the \"Company\") announces that the proposed private placement (the \"Offering\") announced on August 15, 2017 and September 11, 2017 will not proceed at this time due to an abatement of interest stemming from declining gold prices, related weakness in the junior resource sector, and the Company's current share structure.In the absence of the Offering, the Company has demobilized its drill program at the Bazooka property, near Rouyn-Noranda, Quebec, that it announced on August 15, 2017. The proposed drill program will not proceed at this time.There is significant activity in the immediate area of Opawica's Bazooka property. Richmont Mines Inc. announced on September 11, 2017 that it is selling its Wasamac gold property, situated on Opawica's north western border, to Monarques Gold Corporation. On September 17, 2017, Yorbeau Resources Inc. (\"Yorbeau\") announced that Kinross Gold Corporation (\"Kinross\") has completed over 24,000 metres of drilling on the Rouyn Property that is optioned by Kinross. The Rouyn Property is contiguous to the eastern border of Opawica's Bazooka property and the Company's McWatters property adjoins the eastern border of Yorbeau's Rouyn property and Granada Gold Mines Inc.'s land holdings.The Company believes that the Bazooka and McWatters properties are excellent exploration prospects and are well positioned, covering about seven kilometres of the Cadillac Larder Lake Break.FOR FURTHER INFORMATION CONTACT:Paul AntoniazziManaging DirectorOpawica Explorations Inc.Telephone: 604-681-3170Fax: 604-681-3552Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.Forward-looking StatementsCertain statements in this press release relating to the Company's exploration activities, project expenditures and business plans are approximate and are \"forward-looking statements\" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward lookin...