VANCOUVER, Oct. 1 /PRNewswire-FirstCall/ - Opawica
Explorations Inc. (TSX.V: OPW/OTC: OPWEF/Frankfurt: OE5A)
("Opawica"/the "Company") announces further to its news release of
August 27, 2010 and September 17, 2010, the Company is pleased to
announce that it has closed its private placement of 6,050,000
units at $0.10, for gross proceeds of
$605,000. Each unit was comprised of
one flow-through share and one-half of a warrant, with each whole
warrant entitling the holder to acquire a non flow-through share at
$0.15 for a term of one year.
In connection with the private placement the company paid
finders' fees totalling $24,000 and
issued 240,000 finder's warrants, each such warrant entitling the
holder to acquire one common share of the Company at a price of
$0.10 per share for a term of one
year.
The securities issued in connection with the private placement
are subject to a hold period expiring on February 2, 2011.
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.
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