Omai Gold Mines Corp. Announces $30 Million Bought Deal Private Placement of Common Shares
Omai Gold Mines Corp. Announces $30 Million
Bought Deal Private Placement of Common
Shares
Toronto, Ontario--(Newsfile Corp. - September 30, 2025) -
Omai Gold Mines Corp.
(TSXV: OMG)
("
Omai
" or the "
Company
") has entered into an agreement with Paradigm Capital Inc., as lead
underwriter and sole bookrunner, on behalf of
a syndicate of underwriters to be formed (the
"
Underwriters
"), in connection with a "bought deal" private placement offering (the "
Offering
") of
26,087,000 common shares (each, a "
Share
") of the Company to be issued at $1.15 per Share (the
"
Issue
Price
") for gross proceeds of $30,000,050.
In addition, the Underwriters have been granted an option to purchase up to 3,913,050 additional Shares
for additional gross proceeds of up to $4,500,008.
The net proceeds from the Offering will be used for exploration and development, and general working
capital purposes.
In connection with the Offering, the Company has agreed to pay the Underwriters a fee of 5.5% of the
gross proceeds from the sale of the Shares (the "
Underwriters' Fee
"). The Company will have the right
to include a list of subscribers to purchase up to C$1,500,000 of the Shares at the Issue Price under the
Offering (the "
President's List
").
The Underwriters will receive a reduced Underwriters' Fee of 3% of the
gross proceeds from the sale of the Shares to the President's List.
The Offering is expected to close on or about October 21, 2025, and is subject to certain closing
conditions including, but not limited to, the receipt of all necessary approvals including the conditional
listing approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The
Offering is being made by way of private placement in Canada, in the United States pursuant to an
exemption from the registration requirements of the United States Securities Act of 1933, as amended,
and in such other jurisdictions as may be mutually agreed upon by the Underwriters and the Company.
The securities issued under the Offering will be subject to a hold period in Canada expiring four months
and one day from the closing date of the Offering.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there
be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Shares have not been, nor will they be, registered under the United States Securities Act of 1933,
as amended, (the "1933 Act") and may not be offered, sold or delivered, directly or indirectly, in the
United States, or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the
1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act.
ABOUT OMAI GOLD
Omai Gold Mines Corp. is a Canadian gold exploration and development company focused on rapidly
expanding the two orogenic gold deposits at its 100%-owned Omai Gold Project in mining-friendly
Guyana, South America. The Company has established the Omai Gold Project as one of the fastest
growing and well-endowed gold camps in the prolific Guiana Shield greenstone belt. In February 2024
the Company announced an updated NI 43-101 Mineral Resource Estimate
1
("MRE"), followed by the
announcement of an initial baseline Preliminary Economic Assessment ("PEA"), both reported in an NI
43-101 Report filed in April 2024, available on
www.sedarplus.ca
. The 2024 PEA contemplated an open
pit-only development scenario and included only 45% of the Omai Gold Project MRE. The Company
announced an updated, significantly increased Mineral Resource Estimate on August 25, 2025 and is
commencing the preparation of an updated PEA that is expected in early 2026. Four drills are currently
active on the property: at Wenot the focus is to optimize the upcoming PEA, to further test the limits of
the deposit, including both east and west, and to upgrade some of the large Inferred Resource to
Indicated.
Additional drilling will explore certain known gold occurrences for possible near surface
higher-grade satellite deposits.
The Omai Gold Mine produced over 3.7 million ounces of gold from 1993 to 2005
2
, ceasing operations
when gold was below US$400 per ounce. The Omai site significantly benefits from existing infrastructure
and will soon be connected to the two largest cities in Guyana, Georgetown and Linden, via paved road.
1
NI 43-101 Technical Report dated May 21, 2024 "UPDATED MINERAL RESOURCE ESTIMATE AND PRELIMINARY ECONOMIC ASSESSMENT
OF THE OMAI GOLD PROPERTY, POTARO MINING DISTRICT NO.2, GUYANA" was prepared by Eugene Puritch, P.Eng., FEC, CET, President
of P&E Mining Consultants Inc. is available on SEDAR+ and on the Company's website. (An updated MRE was announced in a news release dated
August 25, 2025 and the NI 43-101 Technical Report will be filed shortly)
2
Past production at the Omai Mine (1993-2005) is summarized in several Cambior Inc. documents available on SEDARplus.ca, including March
31, 2006 AIF and news release August 3, 2006.
Elaine Ellingham P.Geo. is a Qualified Person (QP) under NI 43-101 "Standards of Disclosure for
Mineral Projects" and has reviewed the technical information contained in this news release. Ms.
Ellingham is a director and officer of the Company and is not considered to be independent for the
purposes of NI 43-101.
For further information, please see our website
www.omaigoldmines.com
or contact:
Elaine Ellingham, P.Geo.
President & CEO
+1.416.473.5351
Petra Decher, CA,CPA
Chief Financial Officer
+1.416.565.2830
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements or information (collectively, "FLI") within the
meaning of applicable Canadian securities legislation.
Generally, FLI can be identified by the use of statements that include words such as "seeks",
"believes", "anticipates", "plans", "continues", "budget", "scheduled", "estimates", "expects",
"forecasts", "intends", "projects", "predicts", "proposes", "potential", "targets" and variations of such
words and phrases, or by statements that certain actions, events or results "may", "will" "could",
"would", "should" or "might", "be taken", "occur" or "be achieved." FLI herein includes, but is not
limited to, the terms and conditions of the Offering, anticipated regulatory approvals in connection with
the Offering, timing of closing of the Offering, stated use of proceeds of the Offering, statements
regarding the results of the Omai PEA and timing for an updated PEA, as well as the upgraded
mineral resource estimate for the Omai Gold Mine.
All statements, other than statements of historical fact, included herein are FLI that involve various
risks, assumptions, estimates and uncertainties. For additional information with respect to these and
risks, assumptions, and other factors that may affect the FLI made in this press release concerning
the Company, please refer to the sections entitled "Cautionary Note Regarding Forward-Looking
Information" and "Risk Factors" in the most recent management discussion and analysis of the
Company, which is available electronically on SEDAR+ (
www.sedarplus.ca
) under the Company's
issuer profile. FLI is not, and cannot be, a guarantee of future results or events. Investors are
cautioned not to put undue reliance on forward-looking statements.
The FLI contained in this press release are made as of the date hereof or as at the date of the
applicable document only and, accordingly, are subject to change after such dates. The Company
disclaims any intent or obligation to update publicly or otherwise revise any FLI or the foregoing list of
risks, assumptions or other factors, whether as a result of new information, future events or otherwise,
except in accordance with applicable securities laws.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the
TSX-V) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
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