OPAWICA EXPLORATIONS INC. (TSXV: OPW)
VANCOUVER, Feb. 2 /CNW/ - Further to its news release of July 31, 2009, the Company is pleased to announce the closing of the acquisition by Upper Canada Gold Corporation (formerly Washmax Corporation) ("UCG") of a 100% interest in the Company's Dingman gold property near Madoc, Ontario.
As consideration for the Dingman property UCG paid the sum of $40,000 and issued the Company a total of 11,744,752 common shares of UCG, representing approximately 37% of the issued and outstanding shares of UCG. These shares are held in escrow in accordance with the policies of the TSX Venture Exchange and, pursuant to such policies, will be released in tranches over a 36 month period.
Concurrent with the closing of the transaction, Donald M. (Dan) Clark, the Chairman of the Company, was appointed a director of UCG.
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, 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.
For further information: For further information: Jon Samuda, Director, (604) 681-3170