Opus One Gold Corporation Announces Private Placement of Up to $500,000
May 08 2024 - 3:09PM
Opus One Gold Corporation (OOR: TSXV)
(“
Opus One Gold” or the
“
Company”), is pleased to announce a 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.
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 proceeds |
$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 |
105,000 |
|
|
|
Property payment |
200,000 |
|
|
|
|
$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 completed on the terms
set out herein, or at all, or that the proceeds of the offering
will be sufficient for the uses of proceeds as set out above.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the release.
ABOUT OPUS ONE GOLD CORPORATION
Opus One Gold Corporation is a mining
exploration company focused on discovering high quality gold and
base metals deposits within strategically located properties in
proven mining camps, close to existing mines in the Abitibi
Greenstone Belt, north-western Quebec and north-eastern Ontario -
one of the most prolific gold mining areas in the world. Opus One
holds assets in Val-d'Or and Matagami areas.
For more information, please
contact:
Louis MorinChief Executive Officer &
Director Tel.: (514) 591-3988
Michael W. Kinley, CPA, CAPresident, Chief Financial Officer
& Director Tel: (902) 402-0388
info@OpusOneGold.com
Visit Opus One’s website: www.OpusOneGold.com
This press release contains forward-looking
statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable
Canadian securities legislation. All statements other than
statements of historical fact, including without limitation,
statements regarding the anticipated content, commencement and
exploration program results, the ability to complete future
financings, required permitting, exploration programs and drilling,
and the anticipated business plans and timing of future activities
of the Company, are forward-looking statements. Forward-looking
statements are typically identified by words such as: believe,
expect, anticipate, intend, estimate, postulate and similar
expressions, or are those, which, by their nature, refer to future
events. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will
prove to be correct.
The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements as a result of
various factors, including, but not limited to, the state of the
financial markets for the Company's equity securities, the state of
the commodity markets generally, variations in the nature, the
analytical results from surface trenching and sampling program,
including diamond drilling programs, the results of IP surveying,
the results of soil and till sampling program. the quality and
quantity of any mineral deposits that may be located, variations in
the market price of any mineral products the Company may produce or
plan to produce, the inability of the Company to obtain any
necessary permits, consents or authorizations required, including
TSX Venture acceptance, for its planned activities, the inability
of the Company to produce minerals from its properties successfully
or profitably, to continue its projected growth, to raise the
necessary capital or to be fully able to implement its business
strategies, , and other risks and uncertainties. All of the
Company's Canadian public disclosure filings may be accessed
via www.sedar.com and readers are urged to review these
materials, including the technical reports filed with respect to
the Company's mineral properties
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