Omai GOLD Retains Velocity Trade Capital Ltd. FOR Market Stabilization and Liquidity Services
OMAI GOLD RETAINS VELOCITY TRADE CAPITAL LTD. FOR MARKET
STABILIZATION AND LIQUIDITY SERVICES
February 8, 2024, Toronto, Ontario - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF)
(“Omai Gold” or the “Company”) announces that it has engaged Velocity Trade Capital Ltd.
("Velocity Trade") to provide market stabilization and liquidity services to the Company , in
accordance with applicable securities laws and the policies of the TSX Venture Exchange
("Exchange"), and pursuant to the terms of a liquidity program services agreement (the "Services
Agreement").
Pursuant to the Services Agreement, Velocity Trade will manage trading of the Company’s
securities listed on the Exchange from time to time for the purposes of maintaining an orderly
market, with a view to reducing trading volatility and improving the liquidity of the Company's
securities. The funding and securities required for these services undertaken will be provided by
Velocity Trade.
In consideration for the provision of the services by Velocity Trade under the Services
Agreement, Omai Gold has agreed to pay Velocity Trade a monthly fee of $6,000 per month. The
Services Agreement has a minimum set term of sixty days, after which either party
may terminate the Services Agreement by providing the other with not less than 30 days prior
written notice of termination. Velocity Trade and Omai Gold are not related parties and have no
other agreements other than the market liquidity agreement which is the subject of this news
release. The engagement of Velocity Trade to provide market liquidity services to Omai Gold is
subject to acceptance of the Exchange
Velocity Trade is a private and independent investment dealer headquartered in Toronto,
Ontario, and registered for trading in the provinces of Ontario, British Columbia, Alberta, and
Manitoba. Velocity Trade is a member of the TMX, and of the Canadian Investment Regulat ory
Organization. Additionally, the firm and its affiliate companies are regulated internationally by the
UK’s Financial Conduct Authority (FCA), the Authority for Financial Markets (AFM) in the
Netherlands, the Australian Securities and Investment Commis sion (ASIC), South Africa’s
Financial Sector Conduct Authority (FSCA), and the Monetary Authority of Singapore, among
others.
About Omai Gold Mines Corp.
Omai Gold Mines Corp. holds a 100% interest in the Omai Prospecting License that includes the past
producing Omai gold mine in Guyana, and a 100% interest in the adjoining Eastern Flats Mining Permits.
The Company announced an updated NI 43- 101 Mineral Resource Estimate (“MRE”) October 20, 2022
that includes 1.9 million ounces of gold (indicated) and 1.8 million ounces (inferred)1. Once South America’s
largest producing gold mine, Omai produced over 3.7 million ounces of gold between 1993 and 2005.
Mining ceased at a time when the average gold price was l ess than US$400 per ounce. As a brownfields
project, Omai benefits from good road access and a wealth of historical data that provides knowledge of
the geology and gold mineralization on the property, as well as metallurgy, historical recoveries and many
other relevant mining parameters. With the delivery of an updated Mineral Resource Estimate integrating
the 2023 drill results, this will form the basis of a Preliminary Economic Assessment (PEA) that is underway
and expected to be completed in Q1 2024.
OMG NEWS RELEASE 2
1 The Company filed an NI43-101 technical report titled “Technical Report and Updated Mineral Resource Estimate
of the Omai Gold Property, Potaro Mining District No. 2, Guyana”, prepared by P&E Mining Consultants Inc dated
December 2, 2022 available on the SEDAR website www.sedarplus.ca.
For further information, please see our website www.omaigoldmines.com or contact:
Elaine Ellingham, P.Geo.
President & CEO
Phone: +1-416-473-5351
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 this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward- looking statements” under applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to, statements with respect to the timing
of completion of the drill program, and the potential for the Omai Gold Project to allow Omai to build
significant gold Mineral Resources at attractive grades, and forward- looking statements are necessarily
based upon a number of estimates and assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such forward-looking statements. Such factors
include, but are not limited to genera l business, economic, competitive, political and social uncertainties;
delay or failure to receive regulatory approvals; the price of gold and copper; and the results of current
exploration. Further, the Mineral Resource data set out in this news release are estimates, and no
assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated
level of process recovery will be realized. There can be no assurance that forward- looking statements will
prove to be accurate, as actual results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The
Company disclaims any intention or obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except as required by law.