Vancouver, British Columbia--(Newsfile Corp. - June 29, 2018) - Opawica Explorations Inc. (TSXV: OPW) (the "Company") announces that it proposes to undertake a private placement to raise gross proceeds of up to $200,000 (the "Offering") through the sale of up to 4,000,000 units priced at $0.05 (the "Units"). Each Unit consists of one common share and one share purchase warrant exercisable into one further common share at a price of $0.06 for a term of two years.
The Offering will be conducted under available exemptions from the prospectus requirements of applicable securities legislation and participation in the Offering will be available to existing shareholders in qualifying jurisdictions in Canada in accordance with the provisions of BC Instrument 45-354 (the "Existing Shareholder Exemption") and similar provisions in other jurisdictions' securities legislation and will be available to persons in qualifying jurisdictions in Canada who have obtained advice as to the suitability of the investment from a person registered as an investment dealer in accordance with the provisions of BC Instrument 45-536 and similar provisions in other jurisdictions' securities legislation.
The Company has set June 28, 2018 as the record date for the purpose of determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. Qualifying shareholders who wish to participate in the Offering should contact the Company as detailed below.
The proceeds from the Offering will be used for general working capital.
A finder's and/or administrative fee of up to 10% may be paid to registered representatives in connection with the Offering. The fee will be comprised of 50% cash and 50% common shares at $0.05 per share.
The Offering is subject to the acceptance of the TSX Venture Exchange and board approval.
For more information, please visit the Company's website at www.opawica.com.
FOR FURTHER INFORMATION CONTACT:
Mark Lofthouse
Chairman, President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither 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.
