The Prospector News

Omineca Final Closing of Oversubscribed Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Slider

Share this news article

Omineca Final Closing of Oversubscribed Private Placement

 

 

 

 

 

Omineca Mining and Metals Ltd. (TSX-V: OMM) has completed a second and final closing of its significantly oversubscribed private placement of units announced on April 1, 2020. Pursuant to the second and final closing, Omineca raised proceeds of approximately $933,920 through the issuance of 7,782,667 Units at a price of $0.12 per Unit. In total, Omineca raised aggregate gross proceeds of approximately $1,559,920 on the sale of 12,999,332 Units pursuant to the non-brokered private placement.

 

Each Unit consists of one common share in the capital of the Company and one common share purchase warrant.  Each warrant entitles the holder to acquire one common share at a price of $0.20 for a period of 24 months. The securities issued under this private placement are subject to a statutory four-month hold period, ending August 28, 2020 for the first closing and September 22, 2020 for the second closing. Cash finder’s fees were paid on the proceeds from the offering in the amount of $3,206.

 

The financing proceeds will be used toward a hard rock exploration and drilling program at Wingdam, which represents the Company’s initial exploration program for the lode gold source of placer gold recovered from the underground paleochannel at Wingdam, BC, Canada.  Details about the exploration program will be announced once the relevant permits are received.

 

About Omineca Mining and Metals Ltd.

 

Omineca Mining and Metals Ltd. controls its flagship Wingdam Project and the Fraser Canyon Project through its wholly owned subsidiary CVG Mining Ltd.  The Wingdam Project is located 45 km east of Quesnel B.C. on the Barkerville highway.  The property includes both placer and hard-rock tenures along the Lightning Creek valley, where topographic conditions created a thick overburden which preserved a large portion of the channel from conventional surface placer mining activity.  

 

This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities in any jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

 

The securities offered under the offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act“), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S of the Securities Act) or a person in the United States, unless an exemption from such registration requirements is available. 

 

Posted May 21, 2020

Share this news article

MORE or "SLIDER"


Covid - 19 Event Changes - New Online Events from Metals Investor Forum and The Money Show

We continue with the Post Virus move online with 2 new events announced this past week The Me... READ MORE

May 26, 2020

The May/June 2020 Issue is Available for Download

Download Here 04&nbs... READ MORE

May 25, 2020

ORENINC INDEX jumps again as bought deals rule

ORENINC INDEX – Monday, May 25th2020 North Ame... READ MORE

May 25, 2020

David Morgan – “American Billionaires Got Richer During Pandemic” (Audio)

Listen Here America’s billionaires saw their fortunes soar by $434 bil... READ MORE

May 25, 2020

American Manganese Pilot Plant Work Ongoing (Audio)

Listen Here Great Article by Metal Tech News Courtesy of HoweStre... READ MORE

May 25, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions