Opawica Explorations Inc. Announces Private Placement
11 00 – 595 Howe Street, Vancouver, BC Canada V6 C 2T5
T (604) 681 -317 0, F (604) 681 -3552, i nfo@opaw ica.com
www.opawica .com
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
OPAWICA EXPLORATIONS INC. ANNOUNCES PRIVATE PLACEMENT
Vancouver, B.C. – August 4, 20 20 – Opawica Explorations Inc. (the “Company”) (TSX.V: OPW) is
pleased to announce that it proposes to undertake a non-brokered private placement to raise gross
proceeds of up to $ 375,000 (the “Offering”) through the sale of up to 5,000,000 common shares of the
Company (each, a “Share”) at a price of $0.075 per Share.
All Shares issued in connection with the Offering wi ll be subject to resale restrictions, expiring beyond
the customary statutory hold period of four months and one day after closing of the Offering. The Shares
will be issued and represented by four certificates (or DRS statements) of equal amount, each wi th a
different resale restriction endorsed thereon as follows: (i) one Share certificate will bear a legend
expiring four months plus one day from the Closing Date; (ii) one Share certificate will bear a legend
expiring twelve months from the Closing Date; (iii) one Share certificate will bear a legend expiring
eighteen months from the Closing Date; and (iv) one Share certificate will bear a legend expiring twenty -
four months from the Closing Date.
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 jurisdictions in Canada in accordance with the pro visions of BC Instrument 45 -354 (the
“Existing Shareholder Exemption”) and similar provisions in other jurisdictions’ securities legislation and
will be available to persons in qualifying jurisdictions in Canada 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 Company has set August 4 , 2020 as the re cord date f or 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.
Completion of the Offering is subject to the approval of the TSX Venture Exchange. Any participation by
insiders in the Offering will constitute a related party transaction under Multilateral Instrument 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 the Offering will be used for project development, further
work on the Company’s mineral projects, payment of trade payables and debt and working capital.
Finders’ fees may be payable in connection with the Offering in accordance with the policies of the
Exchange.
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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 solicitati on 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.
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 incl udes 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, an d 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 th e proposed Offering, the expectations of management regarding the us e of proceeds of
the Offering, closing conditions for the Offer ing, and Exchange app roval of the proposed Offering. Although the Company
believes that the expectations reflected in the for ward-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 t he Company or at all; the Exchange may not approve the Offering; the
proceeds of the Offering may not be used as stated in th is news release; the Company may be unable to satisfy all of the
conditions to the Closing; and those additional risks set out in t he 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 on ly 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.