Business
Opawica Explorations Inc. Closes Final Tranche of $5.28 Million Private Placement with Lead Order from Eric Sprott
(TheNewswire) Vancouver, B.C. – TheNewswire - June 4, 2021 ...
About this update from Opawica Explorations Inc.
[{"type":"text","content":"Opawica Explorations Inc. Closes Final Tranche of $5.28 Million Private Placement with Lead Order from Eric Sprott\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, B.C. –\n \n \n TheNewswire -\n \n \n June 4, 2021\n \n \n –\nOpawica Explorations Inc. (the “Company”) (TSXV:OPW) is pleased to\nannounce that further to its news releases of May 12, May 31, June 1\nand June 2, 2021, the Company has completed the Final Tranche of a\nnon-brokered private placement to raise an additional $2,159,000, for\ntotal gross proceeds of $5,288,500 (the “Offering”).  The\nOffering was oversubscribed, and the Company would like to thank its\nsupporting investors including Eric Sprott who invested $1,000,000 in\nthe non flow-through Offering.\n \n \n \n \n Blake Morgan, the President and CEO of the Company,\ncommented: “With the large institutional interest in Opawica, we are\npoised for an exciting year. We are now fully funded for a 10,000\nmetre drill program and have the budget on hand to expand\ndramatically.”\n \n \n \n \n The Company raised $3,345,500 through the sale of\n8,363,750 non flow-through units (“NFT Units”) priced at $0.40 and\n$1,943,000 through the sale of 3,886,000 flow-through units (“FT\nUnits”) priced at $0.50.  Each NFT Unit consists of one common\nshare and one-half of one share purchase warrant, with each whole\nwarrant exercisable into one further common share at a price of $0.60\nfor a term of two years. Each FT Unit consists of one flow-through\ncommon share and one half of one share purchase warrant, with each\nwhole warrant exercisable into one further common share at a price of\n$0.60 for a term of two years.\n \n \n \n \n The First Tranche of the Offering consisted of\n5,411,250 NFT Units and 1,930,000 FT Units for gross proceeds of\n$3,129,500. Finder’s fees of $91,425 and 122,312 finde\n \n \n r’s warrants exercisable at $0.60 per common share for a\ntwo year term were paid and all securities are restricted from trading\nuntil October 1, 2021.\n \n \n \n \n The Final Tranche of the Offering consisted of\n2,952,500 NFT Units and 1,956,000 FT Units for gross proceeds of\n$2,159,000. Finder’s fees of $132,550 and 150,000 finder\n \n \n ’s warrants exercisable at $0.60 per common share f...