Warrants: 13,411,000 @ $0.13 wt. avg.
Shares Issued: 50,911,868
Stock Options: 320,000 @$0.07 wt. avg.
Restricted Shares: 11,235,000
VANCOUVER, Sept. 25 /CNW/ - Opawica Explorations Inc. ("Opawica"/the "Company") announces that the Company has closed a private placement consisting of 7,860,000 units at $0.05 per unit for proceeds of $393,000. Each unit consists of one share with a half warrant attached to each share. One whole warrant entitles the holder to acquire one further share of the Company at $0.05 per share for a one year term. Insiders subscribed for 1,875,000 units of the private placement. The expiry date of the hold period for the above 7,860,000 units is January 26th, 2010.
In addition, Opawica announces that effective at the opening of trading on Monday October 5, 2009, the Company's shares will commence trading on the TSX Venture Exchange under the trading symbol of OPW. As at the close of trading on Friday October 2, 2009 Opawica will delist from the TSX.
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.
SOURCE OPAWICA EXPLORATIONS INC.
For further information: For further information: Jonathan Samuda, Director, (604) 681-3170