Vancouver, British Columbia--(Newsfile Corp. - December 15, 2017) - Opawica Explorations Inc. (the "Company") (TSXV: OPW) announces that, further to its news release of November 1, 2017, the Company has closed a private placement to raise gross proceeds of $525,000 (the "Offering") through the sale of 7,000,000 units priced at $0.075 (the "Units"). Each Unit consists of one Common Share and one half of a share purchase warrant, with each whole warrant (the "Warrant") exercisable into one further Common Share at a price of $0.10 for a term of one year. Insiders purchased 819,000 Units.
All securities issued in the private placement are subject to a hold period expiring April 16, 2018.
The proceeds from the Offering will be used for general working capital. No finder's fees were paid on the Offering.
ABOUT OPAWICA EXPLORATIONS INC.
Opawica Explorations Inc. is a junior resource company engaged in the acquisition, exploration and evaluation of gold and base metal mineral properties in Canada. The Company owns 100% interest subject to certain royalties in the Bazooka gold property located in the Beauchastel Township approximately seven kilometres southwest of Rouyn-Noranda, Quebec. The Bazooka property comprises seven contiguous kilometres of strike length along the prolific Abitibi Gold Belt on the Cadillac Larder Lake Break. The eastern border of the Bazooka gold property adjoins Yorbeau Resources Inc.'s Rouyn Property and the western border adjoins Monarques Gold Corporation's Wasamac gold property (2,882,000 oz Au resources per Monarques NI 43-101 technical report dated October 25, 2017). The Company also holds 100% interest subject to certain royalties in the McWatters gold property in the Rouyn-Noranda area and the Arrowhead gold property in the Joannes Township, Quebec.
For more information, please visit the Company's website at www.opawica.com.
FOR FURTHER INFORMATION CONTACT:
Paul Antoniazzi
Chairman, President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.