Opawica Explorations Inc. Closes Private Placement
11 00 – 595 Howe Street, Vancouver, BC Canada V6 C 2T5
T (604) 681 -317 0, F (60 4) 681 -3552, i r@opaw ica.com
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OPAWICA EXPLORATIONS INC. CLOSES PRIVATE PLACEMENT
Vancouver, B.C. – September 17, 2020 – Opawica Explorations Inc. (the “Company”) (TSX.V: OPW)
is pleased to announce that it has closed a non-brokered private placement of 5,000,000 Common Shares
of the Company (each, a “Share”) at a price of $0.0 75 per Share for gross proceed s of $375,000 (the
“Offering”), further to the Company’s news release of August 4, 2020.
All Shares issued in connection 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
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 plus one day from the Closing Date (January 18, 2020); (ii) one Share certificate
will bear a legend expiring eight months from the Closing Da te (May 17, 2021); and (iii) one Share
certificate will bear a legend expiring twelve months from the Closing Date (September 17, 2021).
The proceeds from the Offering will be use d for project development, further work on the Company ’s
mineral projects, payment of trade payables and debt and working capital.
No finders’ fees were paid in connection with the Offering.
Blake Morgan, the President and CE O of the Company, subscribed for 1,000,000 common shares and
Sandra Wong, the CFO of the Company, subscribed for 400,000 common shares. This participation
constitutes a “related party transaction” for the purposes of Multilateral Instrument 61 -101, Protection of
Minority Security Hold ers in Special Transactions (“MI 61 -101”). The Company is relying upon
exemptions from the requirement to obtain a formal valuation and se ek minority shareholder approval for
the Offering on the basis that the fair market value of the participation by related parties in the Offering is
less than 25% of the Company’s current market capitalization.
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 limited 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 for the Offer ing, and Exchange app roval of the proposed Offering. Although the C ompany
believes that the expectations reflected in the forward -looking information are reasonable, there can be no assurance t hat such
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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 favorable to t he Company or at all; the Exchange may not approve 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 set 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 statements, which on ly apply as of the date 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 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.