Business
Opawica Explorations Inc. Expands Flow-Through Offering
(TheNewswire) Vancouver, B.C. - TheNewswire - June 2, 2021 - Opaw...
About this update from Opawica Explorations Inc.
[{"type":"text","content":"Opawica Explorations Inc. Expands Flow-Through Offering\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, B.C. -\n \n \n TheNewswire -\n \n \n June 2, 2021\n \n \n -\nOpawica Explorations Inc. (the “Company”) (TSXV:OPW) is pleased to\nannounce that with reference to its news release of June 1, 2021, the\nCompany is expanding the flow-through portion of its private placement\n(the “Offering”) to sell an additional 1,956,000 flow-through\nunits (“FT Units”) priced at $0.50 for additional gross proceeds\nof $978,000 in flow-through funds to be raised in the Final\nTranche.\n \n \n \n \n The total Offering is now expected to raise gross\nproceeds of $5,288,500 through the sale of 8,363,750 non flow-through\nunits (“NFT Units”) priced at $0.40 and 3,886,000 flow-through\nunits (“FT Units”) priced at $0.50.  Each NFT Unit consists of\none common 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.  Each FT Unit consists of one\nflow-through common share and one half of one share purchase warrant,\nwith each whole warrant exercisable into one further common share at a\nprice of $0.60 for a term of two years.\n \n \n \n \n The proceeds from the sale of the flow-through portion\nof the Offering will be used for exploration activity on the\nCompany’s 100% owned Bazooka and Arrowhead properties located near\nRouyn-Noranda, Quebec, where drilling is expected to commence this\nyear subject to completion of the Offering. In addition, a portion of\nthe flow-through proceeds will be spent on the Company’s mineral\nproperty interests in the province of Newfoundland and Labrador. The\nproceeds from the sale of the non flow-through portion of the Offering\nwill be used for project acquisitions and for general working\ncapital.\n \n \n \n \n The Company closed the First Tranche of the Offering on\nMay 31, 2021 for gross proceeds of $3,129,500 and expects to close the\nFinal Tranche of the Offering on or around June 4, 2021.  The\nOffering is subject to the acceptance of the TSX Venture\nExchange.\n \n \n \n \n About Opawica Explorations\nInc.\n \n \n \n \n Opawica is a Canadian mineral exploration company with\na strong portfolio of p...