Opus One GOLD Corporation Announces Closing of Private Placement
NEWS RELEASE
OPUS ONE GOLD CORPORATION ANNOUNCES CLOSING OF PRIVATE
PLACEMENT
MONTREAL, QC, December 24, 2024 – Opus One Gold Corporation (OOR: TSXV) (“ Opus
One Gold ” or the “Company”), is pleased to announce the closing of a non-brokered private
placement of flow -through shares (“ FT Shares ”) and units of the Company (the “ Units”) for
aggregate gross proceeds of $1,495,750 (the “Offering”).
In total, the Company issued 25,104,545 FT Shares for gross proceeds of $1,380,750 at a price per FT
Share of $0.055 and 2,300,000 Units for gross proceeds of $115,000 at a price per Unit of $0.05, with
each Unit being comprised of one common share of the Company (a “ Share”) and one common share
purchase warrant (each a “Warrant”, and together, the “ Warrants”), with each Warrant entitling the
holder to acquire one common share (each a “Warrant Share”) at an exercise price of $0.10 per Share
for a period of 36 months following the closing of the O ffering. The gross amount raised from the
issuance of FT Shares will be used by the Company for exploration on its mineral exploration
properties and the net proceeds raised from the issuance of Units will be used for general working
capital of the Company and payment of fees related to the Offering.
The FT Share and Units were offered by way of the “accredited investor” exemption under National
Instrument 45- 106 – Prospectus Exemptions in all the provinces of Canada. The Units, FT Shares,
Shares, Warrants and Warrant Shares are subject to a four-month hold period in Canada following the
closing of the Offering.
In aggregate, the Company paid 8% in cash finders fees and issued a total of 363,636 compensation
warrants to arm’s length finders, with each such compensation warrant being exercisable for a period
of 24 months following the closing at a price of $0.055 per Share.
Closing is subject to the approval of the TSX Venture Exchange and other customary closing
conditions.
Related Party Transaction
Patrick Fernet, a director of the Company, acquired 600,000 FT Shares for total consideration of
$33,000. Patrick Fernet is hereinafter referred to as the “Insider”.
The Insider is considered a “related part y” and “insider” of the Company for the purposes of
applicable securities laws and stock exchange rules. The subscription and issuance of FT Shares by the
Insider constitutes a related party transaction but is exempt from the formal valuation and minority
approval requirements of Regulation 61- 101 - Protection of Minority Security Holders in Special
Transactions as neither the fair market value of the common shares issued to the Insider, nor the
consideration paid by such Insider, exceeds 25% of the Company’s market capitalization. The Insider
abstained from voting on all matters relating to the Offering.
Clarification regarding previous private placement
On August 12th and September 11 th, 2024, the Company announced the closing of a previous private
placement of units of the company. The Company wishes to clarify the intended use of the net
proceeds raised from said private placement, being $361,000, as follows (noting that no amount was
payable to investor relations service providers, and less than 10% was payable to non- arm’s length
parties):
USE OF PROCEEDS $
Total 361,000
Management (CEO &CFO) 36,000
Professional fees 75,000
Regulatory fees 25,000
Office and administration 25,000
Working capital 200,000
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 the
release.
ABOUT OPUS ONE GOLD CORPORATION
Opus One Gold Corporation is a mining exploration company focused on discovering high quality
gold and base metals deposits within strategically located properties in proven mining camps, close to
existing mines in the Abitibi Greenstone Belt, north -western Quebec and north -eastern Ontario - one
of the most prolific gold mining areas in the world. Opus One holds assets in Val -d'Or and Matagami
areas.
For more information, please contact:
Louis Morin
Chief Executive Officer & Director Tel.: (514) 591-3988
Michael W. Kinley, CPA, CA
President, Chief Financial Officer & Director Tel: (902) 402-0388
Visit Opus One’s website: www.OpusOneGold.com