Reminder - Rights Offering Expires
OMINECA MINING AND METALS LTD.
REMINDER - RIGHTS OFFERING EXPIRES
NOVEMBER 20, 2024
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
SASKATOON, SK
,
Nov. 13, 2024
/CNW/ - Omineca Mining and Metals Ltd. ("
OMM
" or the
"
Company
") (TSXV: OMM) (OTCQB: OMMSF) reminds holders of the Company's outstanding
rights ("
Rights
") (TSXV: OMM.RT) of important, upcoming deadlines and details for the Rights
offering ("
Rights Offering
") announced on
October 9, 2024
.
Pursuant to the Rights Offering shareholders of record on
October 15, 2024
received Rights. Each
Right entitles the holder to purchase one-third (1/3) of one (1) unit of Omineca (a "
Unit
"). Holders
must exercise three (3) Rights to acquire one (1) Unit at a subscription price of
$0.04
per Unit. Each
Unit consists of one (1) common share of the Company (a "
Common share
") and one (1)
transferable Common Share purchase warrant (a "
Warrant
"), with each full Warrant exercisable into
one (1) Common Share at a price of
$0.07
per share for a period of 36 months from the issue date
of the Units, subject to early expiry in the event the daily volume-weighted average trading price per
Common Share for any 20 consecutive trading days in which there have been at least 100 Common
Shares traded on the TSX Venture Exchange (the "
TSXV
") exceeds
$0.10
.
Under the terms of the Rights Offering, shareholders can oversubscribe for Units. If the Rights
Offering is not fully subscribed, those electing to oversubscribe will receive their over subscription on
a pro rata basis.
Important Details and Reminders
Rights expire at
5:00 pm
Toronto
(EST) time on
November 20, 2024
;
You must take action to exercise or sell your Rights;
Rights can be bought or sold publicly on the TSXV – symbol "OMM.RT";
Rights will trade for cash same day settlement on the expiry date;
Three (3) Right plus the sum of
$0.04
entitles the holder to subscribe for one Unit;
The rights offering notice and rights offering circular are available at www.sedarplus.ca and on
the Company's website:
www.ominecaminingandmetals.com
.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd.'s flagship Wingdam gold exploration and placer recovery projects
are located along the Barkerville Highway 45 km east of the
City of Quesnel
. The Wingdam Property
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.
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US.
SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN
THE
UNITED STATES
OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
This press 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
.
Forward Looking Statements
This release contains forward-looking statements. All statements, other than statements of
historical fact that address activities, events or developments that we believe, expect or anticipate
will or may occur in the future are forward-looking statements. These forward-looking statements
reflect our current expectations or beliefs based on information currently available to us. Forward-
looking statements in this release include, without limitation, statements with respect to: the closing
of the Rights Offering. Forward-looking statements are subject to a number of risks and
uncertainties that may cause our actual results to differ materially from those discussed in the
forward-looking statements and, even if such actual results are realized or substantially realized,
there can be no assurance that they will have the expected consequences to, or effects on, us.
Factors that could cause actual results or events to differ materially from current expectations
include, among other things, uncertainties relating to the availability and cost of funds;
uncertainties relating to closing the Rights Offering; delays in obtaining or failure to obtain required
approvals to complete the Rights Offering; the uncertainty associated with estimating costs to
complete the Rights Offering, including those yet to be incurred; uncertainty respecting the trading
of the Rights and the value of the Rights; and other risks related to our business and the Rights
Offering. Any forward-looking statement speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, we disclaim any intent or obligation to
update any forward-looking statement, whether as a result of new information, future events or
results or otherwise. Although we believe that the assumptions inherent in the forward-looking
statements are reasonable, forward-looking statements are not guarantees of future performance
and, accordingly, undue reliance should not be put on such statements due to their inherent
uncertainty.
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/November2024/13/c0392.html
%SEDAR: 00031647E
For further information:
For more information contact: Omineca Mining and Metals Ltd., Tom
MacNeill, President and Chief Executive Officer, 306-653-2692
CO: Omineca Mining and Metals Ltd.
CNW 08:03e 13-NOV-24