Opus One Gold Corporation Announces Private Placement of Up to $500,000
Opus One Gold Corporation Announces Private Placement of Up to $500,000
MONTREAL, Feb. 01, 2023 -- Opus One Gold Corporation (OOR: TSXV) (“Opus One Gold” or the “Company”), is pleased
to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$500,000 from the sale of units of
the Company (“PP Units”). Each PP Unit shall be issued at price per PP Unit of $0.02 and shall be comprised of one common
share of the Company (a “PP Share ”) and one common share purchase warrant (a “Warrant ”), with each Warrant entitling the
holder to acquire one Share at an exercise price of $0.05 per Share for a period of 24 months following the closing of the
offering.
The Units will be offered by way of the “accredited investor” exemption under National Instrument 45-106 – Prospectus
Exemptions in all the provinces of Canada. The PP Units, Shares and Warrant Shares will be subject to a four-month hold
period in Canada following the closing of the offering.
In accordance with TSX Venture Exchange policies, the Company is relying on a minimum price exception in order to issue
securities at less than $0.05 per listed security. As such, the Company will not issue more than 100% of its issued and
outstanding Shares pursuant to the offering.
The gross proceeds from the issuance of the PP Units is estimated as follows:
5 months to
June 30,
2023
Use of proceeds
Management (CEO &CFO) $ 85,000
Professional fees 18,000
Shareholder communications 20,000
Regulatory fees 10,000
Office and administration 10,000
Working capital and potential acquisitions 357,000
$ 500,000
In connection with the Offering, the Company may pay finder’s fees and issue finder warrants to arm’s length finders,
consisting of: (i) cash finder's fees of up to 5 per cent of the gross proceeds of the offering; and (ii) finder warrants in an amount
equal to up to 5 per cent of the number of FT Units issued pursuant to the offering, exercisable at a price of $0.05 per common
share for a period of two years following the closing date.
Closing of the offering is scheduled to occur on or about February 20, 2023 and is subject to the approval of the TSX Venture
Exchange and other customary closing conditions. There can be no assurances that the offering will be completed on the
terms set out herein, or at all, or that the proceeds of the offering will be sufficient for the uses of proceeds as set out above.
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
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian securities legislation. All statements other than statements of
historical fact, including without limitation, statements regarding the anticipated content, commencement and exploration
program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the
anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking
statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar
expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements
are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from those in forward looking statements as a result of various
factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the
commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program,
including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and
quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may
produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required,
including TSX Venture acceptance, for its planned activities, the inability of the Company to produce minerals from its
properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to
implement its business strategies, and other risks and uncertainties. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with
respect to the Company's mineral properties.