Omineca Mining and Metals Announces $500,000 Financing
Omineca Mining and Metals Announces $500,000 Financing
Not for distribution to United States newswire services or for dissemination in the United
States.
Saskatoon, SK. March 1 4, 2019 – Omineca Mining and Metals Ltd. (TSX -V: OMM)
(“Omineca” or the “Company”) announces a non-brokered private placement offering of up to
10,000,000 units of the Company at $0.05 per unit for gross proceeds of up to $500,000. Each
unit consists of one (1) common share and one (1) common share purchase warrant. Each
warrant entitles the holder to acquire one (1) common share at $0.10 for 24 months following
closing of the offering. Proceeds will be used to finance transaction costs related to the bulk
sampling program announced on March 1, 2019, along with planning the 2019 hard rock
exploration program, and for general working capital.
Omineca has two distinct yet related projects – the Wingdam underground placer gold recov ery
project and an exploration project for potential hard rock sources for placer gold historically
found at Wingdam. The Company’s August 2018 geophysics program yielded magnetic
lineaments that together with data compilation have allowed delineation of f our targets on the
Wingdam property. The property contains structural features similar to those hosting gold at
Barkerville Gold Mine’s Cariboo project located 25 km east-northeast of Wingdam.
Omineca proposes a 2019 exploration program (the “Program”) con sisting of a VTEM survey
over the priority target areas identified in the 2018 geophysics program to define drill targets, as
well as a program of ground sampling and trenching. Details of the Program will be announced
when finalized.
The offering is subject to regulatory approval, including the approval of the TSXV. All securities
issued pursuant to the offering are subject to a statutory four month hold period. Omineca
advises that the insiders of the Company may participate in the financing , which wil l be
completed pursuant to available related -party exemptions under Multilateral Instrument 61 -101
(Protection of Minority Security Holders in Special Transactions).
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd. controls a 100% inter est in the Wingdam Project through its
wholly owned subsidiary CVG Mining Ltd. The 2700 ha Wingdam Project is located 45 km east
of Quesnel B.C. on the Barkerville highway. The property includes both placer and hard -rock
tenures along the Lightning Creek valley, where topographic conditions created a thick
overburden which preserved a large portion of the channel from conventional surface placer
mining activity.
This press release was prepared and approved by Dr. Stewart A. Jackson, PGeo., a Qualified
Person as defined by National Instrument 43 -101, and a Technical Advisor to the Company. Dr.
Jackson has 60 years experience in minerals exploration in a variety of deposit types, and in
many areas of the world.
For further information, please contact:
Tom MacNeill
President and CEO
306-653-2692
This news release does not constitute an offer to sell, or the solicitation of an offer to buy
securities in any jurisdic tion 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 th e 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 project financing, the economic feasibility of the Wingdam Project,
known and unknown risk factors and uncertainties affec ting 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, perf ormance 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.