Omineca Announces Closing of Private Placement Financing for Exploration
Omineca Announces Closing of Private
Placement Financing for Exploration
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
./
SASKATOON, SK
,
Nov. 16, 2022
/CNW/ - Omineca Mining and Metals Ltd.'s (TSXV: OMM)
("
Omineca
" or the "
Company
") announces that it has completed a non-brokered private placement
offering (the "
Offering
") of 9,374,999 units of the Company (the "
Units
") at a price of
$0.08
per Unit
for gross proceeds of
$750,000
. Each Unit consists of one common share of the Company (a "
Unit
Share
") and one (1) common share purchase warrant (a "
Warrant
"). Each Warrant entitles the
holder to purchase one common share of the Company at an exercise price of
$0.12
until
November
16, 2024
.
The net proceeds of the Offering will used to accelerate and continue the Company's hard rock gold
exploration and drilling activity at its exploration projects in the Cariboo Mining District in south-
central
British Columbia
and for general working capital purposes.
The Units, and the underlying securities comprising the Units issued under the Offering are subject to
a statutory hold period expiring
March 17, 2023
. In connection with the Offering, the Company has
paid certain finders a cash finder fee of 7% of applicable subscription price.
Omineca advises that insiders of the company participated in the Offering, which was completed
pursuant to available related party exemptions under Multilateral Instrument 61-101.
About Omineca Mining and Metals Ltd.
Omineca's
flagship
Wingdam
gold exploration and placer recovery project is located along the
Barkerville
Highway 45 km east of the City of
Quesnel
,
British Columbia
. The
Wingdam
project
includes mineral tenures totaling over 61,392 hectares (613 square
kms
) and in excess of 15 linear
kilometers of placer claims, both encompassing the Lightning Creek valley where topographic
conditions created thick layers of overburden, which preserved a large portion of a buried
paleochannel
containing placer gold-bearing
gravels
.
Omineca
also has an exploration and diamond
drill program currently underway exploring for the potential multiple hard rock sources of the placer
gold at
Wingdam
.
This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities
in any jurisdiction in which such offer or solicitation would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
The securities offered under the Offering have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "
Securities Act
"), or the securities laws of any
state of the
United States
, and may not be offered or sold in the United States or to, or for the
account or benefit of, any U.S. Person (as defined in Regulation S of the Securities Act) or a
person in the
United States
, unless an exemption from such registration requirements is available.
Forward Looking Statements
This release includes forward-looking statements regarding Omineca and its business. Such
statements are based on the current expectations and views of future events of Omineca's
management. In some cases, the forward-looking statements can be identified by words or
phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate",
"believe" or the negative of these terms, or other similar expressions intended to identify forward-
looking statements. The forward-looking events and circumstances discussed in this release may
not occur and could differ materially as a result of the failure to consummate the Offering, the
economic feasibility of the Wingdam project, known and unknown risk factors and uncertainties
affecting Omineca, including risks regarding the resource industry, economic factors and the
equity markets generally and many other factors beyond the control of Omineca. No forward-
looking statement can be guaranteed. Forward-looking statements and information by their nature
are based on assumptions and involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or industry results, to be
materially different from any future results, performance or achievements expressed or implied by
such forward-looking statement or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. Forward-looking statements speak only
as of the date on which they are made and Omineca undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new information, future events, or
otherwise, except as required by applicable securities laws.
Neither 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.
SOURCE
Omineca Mining and Metals Ltd
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%SEDAR: 00031647E
For further information:
Tom MacNeill, President and CEO, 306-653-2692
CO: Omineca Mining and Metals Ltd
CNW 16:30e 16-NOV-22