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Opus One Gold Corporation Announces Extension of Previously Announced Private Placement of up to $500,000
MONTREAL, July 25, 2024 (GLOBE NEWSWIRE) -- Opus One Gold Corporation (OOR: TSXV) (“Opus One Gold” or the “Company”), is pleased to announce the extension of it
About this update from Opus One Gold Corporation
[{"type":"text","content":" MONTREAL, July 25, 2024 (GLOBE NEWSWIRE) -- Opus One Gold Corporation (OOR: TSXV) (“Opus One Gold” or the “Company”), is pleased to announce the extension of its previously announced non-brokered private placement (the “Offering”) for gross proceeds of up to C$500,000 from the sale of units of the Company (the “Units”). Each Unit shall be issued at price per Unit of $0.02 and shall be comprised of one common share of the Company (a “Share”) and one common share purchase warrant (each a “Warrant”, and together, the “Warrants”), with each Warrant entitling the holder to acquire one Share at an exercise price of $0.05 per Share for a period of 24 months following the closing of the offering. A first tranche of the Offering is scheduled to close on or around July 29, 2024. The Units will be offered by way of the “accredited investor” exemption under National Instrument 45-106 – Prospectus Exemptions in all the provinces of Canada. The Units, Shares, Warrants and Warrant Shares will be subject to a four-month hold period in Canada following the closing of the offering. In accordance with TSX Venture Exchange policies, the Company is relying on a minimum price exception in order to issue securities at less than $0.05 per listed security. As such, the Company will not issue more than 100% of its issued and outstanding Shares pursuant to the offering. The gross proceeds from the issuance of the Units is estimated as follows: USE OF PROCEEDS $ Total 500,000 Management (CEO &CFO) 50,000 Professional fees 75,000 Shareholder communications 20,000 Regulatory fees 25,000 Office and administration 25,000 Working capital 305,000 $ 500,000 In connection with the Offering, the Company may pay finder’s fees and issue finder warrants to arm’s length finders, consisting of: (i) cash finder's fees of up to 5 per cent of the gross proceeds of the offering; and (ii) finder warrants in an amount equal to up to 5 per cent of the number of Units issued pursuant to the offering, exercisable at a price of $0.05 per common share for a period of two years following the closing date. Closing is subject to the approval of the TSX Venture Exchange and other customary closing conditions. There can be no assurances that the offering will be complete...