By Laura Lutz
Des Moines, Dec. 29 - Opawica Explorations Inc. increased the size of two previously announced private placements. The company upsized its settled private placement of flow-through units to C$1,155,200 from C$1.147 million and upsized its planned private placement of non flow-through units to C$265,800 from C$253,000.
In the flow-through offering, the company sold 16,502,856 units of one flow-through share and one half-share warrant at C$0.07 per unit. The deal originally included 16,385,713 units. Each whole warrant is exercisable for one non flow-through share at C$0.07 for one year.
In the non flow-through deal, the company plans to sell 3,797,144 non flow-through units, up from 3,614,287 units, at C$0.07 per unit. Each non flow-through unit consists of one non flow-through share and one half-share warrant with each whole warrant exercisable for one non flow-through share at C$0.07 for one year.
Proceeds from both deals will be used for exploration on the company's Atikwa Lake copper-gold property near Kenora, Ont., on the company's Matachewan gold properties in northeastern Ontario and on the Madoc gold properties in southeastern Ontario.
Vancouver, B.C.-based Opawica is a gold exploration company.
Flow-through units
| Issuer: | Opawica Explorations Inc.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$1,155,200
|
| Units: | 16,502,856
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.07
|
| Settlement date: | Dec. 22
|
| Upsized: | Dec. 29
|
| Stock symbol: | Toronto: OPW
|
| Stock price: | C$0.07 at close Dec. 22
|
| Stock price: | C$0.065 at close Dec. 28
|
|
|
| Non flow-through units
|
| Issuer: | Opawica Explorations Inc.
|
| Issue: | Units of one non flow-through share and one half-share non flow-through warrant
|
| Amount: | C$265,800
|
| Units: | 3,797,144
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.07
|
| Pricing date: | Dec. 22
|
| Upsized: | Dec. 29
|
| Stock symbol: | Toronto: OPW
|
| Stock price: | C$0.07 at close Dec. 22
|
| Stock price: | C$0.065 at close Dec. 28
|
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