By Devika Patel
Knoxville, Tenn., May 23 - Opawica Explorations Inc. said it settled a private placement of units for C$1.31 million. The deal priced for C$2 million on April 9.
The company planned to sell 2.5 million units of one share and one half-share warrant at C$0.80 per unit, but it only sold 1,635,000 units. Each whole warrant will be exercisable at C$0.90 for one year.
Proceeds will be used for general operating capital, drilling and to complete reports for the company's properties.
Vancouver, B.C.-based Opawica is a gold exploration company.
| Issuer: | Opawica Explorations Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,308,000
|
| Units: | 1,635,000
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.90
|
| Pricing date: | April 9
|
| Settlement date: | May 23
|
| Stock symbol: | Toronto: OPW
|
| Stock price: | C$0.90 at close April 8
|
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