Opawica Explorations Inc. Announces $4,000,000 Private Placement
3043 – 595 Burr ard Street, Vancouver, BC Canada V7X 1L7
T (604) 681 -3170, F (604) 681 -3552, [email protected]
www.opawica.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
OPAWICA EXPLORATIONS INC. ANNOUNCES $4,000,000 PRIVATE PLACEMENT
Vancouver, B.C. – May 12, 2021 – Opawica Explorations Inc. (th e “Company”) (TSX.V: OPW) is
pleased to announce that it proposes to undertake private placements to raise gross proceeds of up to
$4,000,000 (the “Offering”). The Company proposes to raise up to $2,000,000 through the sale of up to
5,000,000 non flow-through units priced at $0.40 (t he “NFT Units”) and up to $2,000,000 through the
sale of up to 4,000,000 flow -through units priced at $0.50 (the “FT Units”). Each NFT Unit consists of
one common share and one -half of a share purchase warrant, with e ach whole warrant (the “Warrant”)
exercisable into one further common share at a price of $0.60 for a term of two years. Each FT Unit
consists of one flow -through common share and one -half of a share purchase warrant, with each whole
Warrant exercisable into one further common share at a price of $0.60 for a term of two years.
The Offering will be conducted under available exemptions from the prospectus requirements of
applicable securities legislation and participation in the Offering will be available to existing shareholders
in qualifying j urisdictions in Canada in accordance with the provisions of BC Instrument 45 -354 (the
“Existing Shareholder Exemption”) and similar provisions in other jurisdictions’ securities legislation and
will be available to p ersons in qualifying jurisdictions in C anada who have obtained advice as to the
suitability of the investment from a person registered as an investment dealer in accordance with the
provisions of BC Instrument 45-536 and similar provisions in other jurisdictions’ securities legislation.
The C ompany has set May 10, 2021 as the record date for the purpose of determining shareholders
entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. Qualifying
shareholders who wish to participate in the Offering should contact the Company as detailed below. If the
Offering is oversubscribed, units will be allocated pro rata amongst all subscribers.
The proceeds from the sale of the flow -through portion of the Offering will be used for exploration
activity on the Company’s 100% owned Bazooka and Arrowhead properties located near Rouyn -
Noranda, Quebec, where drilling is expected to commence this year subject to completion of the Offering.
In addition, a p ortion of the flow -through proceeds will be spent on the Company’s mineral property
interests in the province of Newfoundland and Labrador. The proceeds from the sale of the non flow -
through portion of the Offering will be used for project acquisitions and for general working capital.
Finders’ fees in connection with the Offering may be payable in accordance with the policies and subject
to the approval of the TSX Venture Exchange (“TSXV”). All Shares issued in connection with the
Offering will be subject to a statutory hold period of four mo nths and one day after closing of t he
Offering. Completion of the Offering is subject to the approval of the TSX V. Any participation by
insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61 -101 -
Protection of Minority Security Holders in Spe cial Transactions (“MI 61 -101”) but is expected to be
exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
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None of the securities sold in connection with the Offer ing will be registered under the United States
Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States
absent registration or an applicable exemption from the registration requirements. This news release shall
not constitute an offer to sell or the solicitatio n 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.
About Opawica Explorations Inc.
Opawica is a Canadian mineral exploration company with a strong portfolio of precious and base metal
properties within the Rouyn -Noranda region of the Abitibi gold belt in Quebec and in Central
Newfoundland and Labrador. The Company's management has a great reco rd in discovering and
developing successful exploration projects. Th e Company's objective is to increase shareholder value
through the development of exploration properties using cost -effective exploration practices, acquiring
further exploration propertie s and seeking partnerships by either joint venture or sale with indu stry
leaders.
FOR FURTHER INFORMATION CONTACT:
Blake Morgan
President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552
Disclaimer for Forward-Looking Information
This news release includes certain “forward -looking statements” under applicable Canadian securities
legislation that are not historical facts. Forward -looking statements involve risks, uncertainties, and other
factors that could cause actual results, performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward -looking statements. Forward-looking statements in this news
release include, but are not limited to, statements with respect to the expectations of management
regarding the proposed Offering, the expectations of management regarding the use of proceeds of the
Offering, closing conditions for the Offering, and Exchange approval of the proposed Offering. Although
the Company beli eves that the expectations reflected in the forward -looking information are reasonable,
there can be no assurance that such expectations will prove to be correct. Such forward -looking
statements are subject to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the statements including that: the Company
may not complete the Offering on terms favorable to the Company or at all; the Exchange may not
approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the
Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out
in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes
that the assumptions and factors used in preparing th e forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply as of the date of this news release,
and no assurance can be given th at such events will occur in the disclosed time frames or at all. Ex cept
where required by law, the Company disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Servi ces Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.