The Prospector News

Omai Gold Mines closes non-brokered private placement

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Omai Gold Mines closes non-brokered private placement






Omai Gold Mines Corp. (TSX-V:OMG) is pleased to announce that further to its press releases dated June 2, 2021 and June 8, 2021, the Company has closed its non-brokered private placement with a lead order from Silvercorp Metals Inc. The Company issued 29,411,757 units at a price of C$0.17 per Unit for aggregate gross proceeds of C$4,999,999. Each Unit consists of one common share and one-half of a common share purchase warrant. Two such half warrants constitute a full warrant. Each Warrant entitles the holder to acquire one Common Share at an exercise price of C$0.23 for a period of 36 months from the closing date of the Offering.


Silvercorp, an existing shareholder, acquired 4,464,706 Units pursuant to the Offering for gross proceeds of C$759,000. As a result, Silvercorp holds an approximately 15.2% equity stake in the Company on a basic basis and 16.0% on a partially diluted basis.


The proceeds from the Offering will be used for an expanded exploration program at the Omai Gold Project.


Finders’ fees of C$201,068 cash and 1,182,752 broker warrants (“Broker Warrants”) were paid to certain finders. Each Broker Warrant entitles the holder to acquire one common share of the Company at a price of C$0.17 for a period of 36 months from the date of issuance.


Common Shares issued pursuant to the Offering and any Common Shares issued upon the exercise of Warrants or Broker Warrants will be subject to a four-month and one day hold period from the closing date in accordance with applicable securities laws of Canada.


The private placement is subject to TSX Venture Exchange approval.


About Omai Gold Mines Corp.

Early prospectors identified Guyana’s vast mineral wealth 130 years ago, and at the heart of the country’s gold mining history is the Omai mine: a multi-million-ounce deposit that was once South America’s largest producing gold mine. We’re building on this past success with new tools, relationships and vision to bring this under-explored gold district back to life, providing a unique opportunity for all stakeholders to participate in value creation.


Avalon Gold Exploration Inc., a wholly owned subsidiary of Omai Gold Mines Corp., holds a 100% interest in the Omai Prospecting License covering 4,590 acres, including the past producing Omai gold mine.


Posted June 29, 2021

Share this news article


American Manganese Inc. Receives DTC Eligibility

American Manganese Inc. (TSX-V: AMY) (OTCQB: AMYZF) (FSE: 2AM) a... READ MORE

July 23, 2021

Monarch Mining Corporation Announces a $11.25 Million Transaction With Gold Royalty Corp.

Transaction aimed at strengthening Monarch’s balance sheet in p... READ MORE

July 23, 2021

Treasury Metals Announces Additional Results at Goldlund Including 5.48 g/t Au over 25.9m and 2.94 g/t Au over 26.0m

Highlights: Results from 13 holes for the Goldlund Project... READ MORE

July 23, 2021

Atico Produces 4.46 Million Pounds of Cu and 2,732 Ounces of Au in Second Quarter 2021 and Provides Corporate Update

Atico Mining Corporation (TSX-V: ATY) (OTCQX: ATCMF) announces it... READ MORE

July 23, 2021

Viscount Mining Finds Widespread Silver Mineralization over 170 meters per hole on Multiple Drill Holes at the Passiflora in Silver Cliff Colorado

Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) is pleased to a... READ MORE

July 22, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News