By Devika Patel
Knoxville, Tenn., Oct. 2 - Opawica Explorations Inc. announced it has completed a previously announced non-brokered C$1.15 million private placement of units. The oversubscribed deal priced on Sept. 21.
The company sold 14,350,000 units of one flow-through share and one half-share warrant at C$0.08 per unit. Each whole warrant will be exercisable at C$0.09 for one year.
Insiders bought 418,750 units.
The securities have a four-month hold period.
Proceeds will be used for exploration.
Vancouver, B.C.-based Opawica is a gold exploration company.
| Issuer: | Opawica Explorations Inc.
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Amount: | C$1,148,000
|
| Units: | 14,350,000
|
| Price: | C$0.08
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.09
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 21
|
| Settlement date: | Oct. 2
|
| Stock symbol: | Toronto: OPW
|
| Stock price: | C$0.075 at close Oct. 2
|
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