VANCOUVER, Aug. 27 /PRNewswire-FirstCall/ - Opawica
Explorations Inc. (TSX.V: OPW / OTC: OPWEF / Frankfurt: OE5A)
("Opawica" / the "Company") announces a $400,000 private placement unit of offering (the
"Offering").
The Offering consists of up to 4,000,000 units at $0.10 per unit. Each unit consists of one
flow-through share with a half warrant attached to each share. One
full warrant entitles the holder to acquire one further
non-flow-through share of the Company at $0.15 per share for a one year term.
Insiders will subscribe for up to 1,000,000 units of the
offering. In addition, finders fees are payable on non-insider
participation of 8% in cash and 8% in compensation warrants.
Compensation warrants are exercisable into common shares of the
Company at $0.10 per share for a one
year term.
The private placement is subject to regulatory approvals and
filings.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. The forgoing information may contain
forward-looking statements relating to the future performance of
the Company. Forward looking statements, specifically those
concerning future performance or events, are subject to certain
risks and uncertainties, and actual results may differ materially.
These risks and uncertainties are detailed from time to time in the
Company's filings with the appropriate regulatory authorities. We
seek safe harbour.
SOURCE Opawica Explorations Inc.
Copyright . 27 PR Newswire
