Opus One Resources Announces First Closing of Private Placement Financing with a Strategic Investment from Palisades Goldcorp
4710 Saint-Ambroise Street, Suite 308
Montreal, Quebec, H4C 2C7
Tel: (514) 591-3988
NEWS RELEASE
August 4, 2020 Trading Symbol: TSX-V: OOR
OPUS ONE RESOURCES ANNOUNCES FIRST CLOSING OF
PRIVATE PLACEMENT FINANCING WITH A STRATEGIC
INVESTMENT FROM PALISADES GOLDCORP
MONTREAL, QC - OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX
Venture Exchange: OOR), announces the first closing of a unit non-brokered private
placement (the "Offering") for total gross proceeds of $1,650,000. The first closing forms
part of a larger Offering of up to 35,000,000 Units at a price of $0.05 per Unit, each unit
consisting of one common share and a warrant to purchase one additional common share
at a price of $0.07 for a period of three years. In total, the Company issued 33,000,000
common shares at a price of $0.05, together with accompanying share purchase warrants
as described above.
In connection with the first closing of Offering, the Company paid total finders' fees of
$84,800 in cash and issued 1,696,000 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 July 30, 2022. The securities issued under the first closing
are subject to a four month hold period ending December 1, 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 Palisades Goldcorp as a strategic investor
in Opus One ” said Louis Morin, Chief Executive Offic er. “Palisades Goldcorp’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 Palisades Goldcorp Ltd.
Palisades Goldcorp Ltd. is Canada’s new resource focused merchant bank. Palisades’
management team has a demonstrated track record of making mone y and is backed by
many of industry’s most notable financiers. With junior resource equities valued at
generational lows, management believes the sector is on the cusp of a major bull market
move. Palisades is positioning itself with significant stakes in undervalued companies and
assets with the goal of generating superior returns.
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