Opus One Resources Announces Closing of the Second Tranche of the Private Placement Financing with a Strategic Investment from Sidex
4710 Saint-Ambroise Street, Suite 308
Montreal, Quebec, H4C 2C7
Tel: (514) 591-3988
NEWS RELEASE
August 11, 2020 Trading Symbol: TSX-V: OOR
OPUS ONE RESOURCES ANNOUNCES CLOSING OF THE
SECOND TRANCHE OF THE PRIVATE PLACEMENT FINANCING
WITH A STRATEGIC INVESTMENT FROM SIDEX
MONTREAL, QC - OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX
Venture Exchange: OOR), announces the closing of a non-brokered flow through private
placement (the "Flow Through Offering") for total gross proceeds of $750,000. In total, the
Company issued 9,375,000 flow-through common shares (the “Flow-Through Shares”) at
a price of $0.08 per Flow-Through Share.
The Company also closed the second tranche of its units offering for additional gross
proceeds of $100,000. In total, the Company issued an additional 2,000,000 units (the
“Units”) at a price of $0.05 per Unit, each unit consisting of one common share of the
Company and one share purchase warrant to purchase one additional common share at
a price of $0.07 for a period of three years (see news release of August 4, 2020
announcing the first closing for more details).
In connection with both closings, the Company paid total finders' fees of $21,600 in cash
and issued 320,000 non-transferable share purchase warrants, each warrant entitling the
holder thereof to purchase one common share of the Company at a price of $0.07 per
share until August 7, 2022. The securities issued under the closings are subject to a four
month hold period ending December 8, 2020.
The Offering remains subject to the final approval of the TSX Venture Exchange. The
proceeds of the Offering will be used by the Company to advance its Noyell and Fecteau
exploration projects within Quebec and for general administrative purposes.
“We are extremely pleased to welcome Sidex as a strategic investor in Opus One ,” said
Louis Morin, Chief Executive Officer. “Sidex’s strategic investment is a strong
endorsement of the upside value they currently see in relation to our properties located in
Casa Berardi and Urban Barry areas that are well established gold districts. We look
forward to the advancement of our projects as we work towards delivering value to our
shareholders.”
About Sidex
SIDEX is an initiative of the Québec government and the Fonds de solidarité des
travailleurs du Québec (F.T.Q.) whose mission is to invest in companies engaged in
mineral exploration in Québec in order to diversify the province’s mineral base, promote
innovation and new entrepreneurs.
About Opus One Resources Inc.
Opus One Resources Inc. 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, Matagami and Chibougamau areas. Opus controls a
100% interest in the following projects:
• Noyell property (option to earn 100%) is located few kilometers East of Nottaway
Resources Vezza Mine, within the Casa Berardi gold district.
• Vezza Extension and Vezza North are located few kilometers West and North of
Nottaway Resources Vezza Mine;
• Fecteau property (option to earn 100%), located in the Urban -Barry greenstone
belt, east of Osisko Mining’s Windfall Lake deposit, currently one of the most active
exploration area in Canada.
• Bachelor Extension property is adjacent to Bonterra Resources Inc. - Bachelor
Gold Mine;
• Courvillle gold property is located east of Val D’Or;
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
For more information, please contact:
Louis Morin, CEO & Director
T (514) 591-3988
Michael W. Kinley, CPA, CA
President, CFO & Director
T (902) 826-1579
F (902) 826-2550
C (902) 402-0388
Visit Opus One’s website: www.OpusOneResources.com