VANCOUVER, Aug. 27 /CNW/ - Opawica Explorations Inc. (TSX.V: OPW / OTC: OPWEF / Frankfurt: OE5A) ("Opawica" / the "Company") announces a $400,000 private placement unit of offering (the "Offering").
The Offering consists of up to 4,000,000 units at $0.10 per unit. Each unit consists of one flow-through share with a half warrant attached to each share. One full warrant entitles the holder to acquire one further non-flow-through share of the Company at $0.15 per share for a one year term.
Insiders will subscribe for up to 1,000,000 units of the offering. In addition, finders fees are payable on non-insider participation of 8% in cash and 8% in compensation warrants. Compensation warrants are exercisable into common shares of the Company at $0.10 per share for a one year term.
The private placement is subject to regulatory approvals and filings.
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 or events, 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: Jonathan Samuda, Director / Corporate Secretary, Tel: (604) 681-3170, Fax: (604) 681-3552, Website: www.opawica.com