Opawica Explorations Inc. Announces Private Placement
11 00 – 595 Howe Street, Vancouver, BC Canada V6 C 2T5
T (604) 681 -3170, F (604) 681 -3552, i nfo@opaw ica.com
www.opawica .com
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DISSEMINATION IN THE UNITED STATES
OPAWICA EXPLORATIONS INC. ANNOUNCES PRIVATE PLACEMENT
Vancouver, B.C. – January 30, 2020 – Opawica Explorations Inc. (the “Company”) (TSX.V: OPW) is
pleased to announce a non -brokered private placement consisting of the issuance of up to 10,000,000
units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $5 00,000 (the “Offering”).
Insiders may participate in the Offering.
Each Unit wi ll consist of one common share of the Company (each, a “Share”) and one common share
purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one Share at a
price of $0.065 per Share for a period of five years following the closing of the Offering (the “Closing”).
Finders’ fees may be payable in connection with the Offering in accordance with the policies of the TSX
Venture Exchange (the “Exchange”).
All securities issued in connection with the Offering will be subject to a statutory hold p eriod expiring
four months and one day after closing of the Offering. Completion of the Offering is subject to the
approval of the Exchange. Any participation by insiders in the Offering will constitute a related party
transaction under Multilateral Instru ment 61 -101 - Protection of Minority Security Holders in Special
Transactions (“MI 61 -101”) but is expected to be exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101.
The aggregate gross proceeds from the sale of t he Offering will be used for project development, further
work on the Company’s mineral projects, repayment of debt and working capital.
None of the securities sold in connection with the Offering 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 solicitation of an offer to buy n or shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
FOR FURTHER INFORMATION CONTACT:
Owen King
Interim 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 inv olve ris ks, 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
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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 us e of proceeds of
the Offering, closing conditions for the Offering, and Exchange app roval of the proposed Offering. Although the Company
believes that the expectations reflected in the forward -looking information are reasonable, there can be no assurance t hat 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: th e 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 d ocuments filed on SEDAR at
www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward -looking
statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the da te of this news
release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except 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 Services Provider (as that term is defined in the po licies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.