Opawica Explorations Inc. Closes Final Tranche of Private Placement
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OPAWICA EXPLORATIONS INC. CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT
Vancouver, B.C. – December 23, 2020 – Opawica Explorations Inc. (the “Company”) (TSX.V: OPW) is
pleased to announce that, further to its news release s of October 5, 2020 and December 14, 2020, the
Company has closed the final tranche of its non -brokered private placement (the “Offering”) to raise
additional gross proceeds of $80,000 (the “Final Tranche”) through the sale of a further 800,000 common
shares of the Company (each, a “Share”) at a price of $0.10 per Share.
All Shares issued in connec tion with the Offering will 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
of the Final Tranche will be issued and represented by three certificates (or DRS statements) of equal
amount, each with a different resale restriction endorsed thereon as follows: (i) one Share certificate will
bear a legend expiring four months pl us one day from the Closing Date (April 24, 2020); (ii) one Share
certificate will bear a legend expiring eight months from the Closing Date (August 23, 2021); and (iii) one
Share certificate will bear a legend expiring twelve months from the Closing Date (December 23, 2021).
The Final Tranche completes the Company ’s Offering to raise a total of $516,000 through the sale of
5,160,000 Shares. The proceeds from the Offering will be used for project acquisition and explorat ion,
payment of trade payables and debt and working capital.
No finders’ fees were paid in connection with the Final Tranche.
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 r elease includes certain “forward -looking statements” under applicable Canadian securities l egislation that are not
historical facts . Forward -looking s tatements inv olve ris ks, uncertainties, and other factors t hat could cause actual results,
performance, pr ospects, and opportunities to differ ma terially from those expressed or implied by such for ward-looking
statements. Forward -looking statements in this news release include, but are not limit ed to, statements w ith respect to the
expectations of management r egarding the proposed Offering, the exp ectations of management regarding the us e of proceeds of
the Offering, closing conditions fo r the Offer ing, and Exchange app roval of the proposed Offer ing. Although the C ompany
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 contai ned in the statements including that: th e Company
may not complete the Offering on terms fav orable to t he Company or at all; the Exchange may not appro ve the Offering; th e
proceeds of the Offering may not be used as s tated in this news release; the Company may be unable to satisfy all of the
conditions to t he C losing; and those additional risks s et out in t he Compa ny’s public d ocuments filed on SEDAR at
www.sedar.com. Alth ough the Company believes that the assumptions and factors used in preparing the forwa rd-looking
statements are reasonable, undue reliance should not be placed on these statement s, which only apply as of the date of this news
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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 a ny forward-looking statement, whether as a result of
new information, future events, or otherwise.
Neither the TSX Venture E xchange nor its Regulation Services Pro vider (as that term is defined in the po licies of th e TS X
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.