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Printed Aug 13, 2024 • 4 minute learn
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MONTREAL, Aug. 13, 2024 (GLOBE NEWSWIRE) — Opus One Gold Company (OOR: TSXV) (“Opus One Gold” or the “Firm”), is happy to announce the closing of the primary tranche of its beforehand introduced non-brokered non-public placement (the “Providing”) for gross proceeds of as much as C$500,000 from the sale of models of the Firm (the “Models”).
In complete, the Firm issued 13,050,000 Models for gross proceeds of $261,000 at a worth per Unit of $0.02 and was be comprised of 1 frequent share of the Firm (a “Share”) and one frequent share buy warrant (every a “Warrant”, and collectively, the “Warrants”), with every Warrant entitling the holder to amass one frequent share (every a “Warrant Share”) at an train worth of $0.05 per Share for a interval of 24 months following the closing of the providing.
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The Models have been supplied by means of the “accredited investor” exemption beneath Nationwide Instrument 45-106 – Prospectus Exemptions in all of the provinces of Canada. The Models, Shares, Warrants and Warrant Shares are topic to a four-month maintain interval in Canada following the closing of the Providing. In reference to the Providing, the Firm has not paid any finder’s charges or issued any finder warrants.
Closing is topic to the approval of the TSX Enterprise Change and different customary closing circumstances.
Associated Get together Transaction
Michael Kinley, an officer and director of the Firm, not directly bought 500,000 Models for proceeds of $10,000, and Patrick Fernet, a director of the Firm, 2,000,000 Models for a complete consideration of $40,000. Mike Kinley and Patrick Fernet are hereinafter known as the “Insiders”.
The Insiders are thought-about “associated events” and “insiders” of the Firm for the needs of relevant securities legal guidelines and inventory trade guidelines. The subscription and issuance of Models by the Insiders constitutes associated social gathering transactions however is exempt from the formal valuation and minority approval necessities of Regulation 61-101 – Safety of Minority Safety Holders in Particular Transactions as neither the truthful market worth of the frequent shares and customary share buy warrants issued to every of the Insiders, nor the consideration paid by such Insiders, exceeds 25% of the Firm’s market capitalization. The Insiders abstained from voting on all issues regarding the Providing.
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Annual and Normal Assembly of the Firm
The Firm additionally needs to announce that it will likely be holding its annual and common assembly of the shareholders of the Firm (the “Assembly”) on September 12, 2024, at 11:00 a.m. Jap Time. The Assembly will probably be held solely by way of a web-based platform. Shareholders won’t be able to attend the Assembly in particular person. As a substitute, registered shareholders and duly appointed proxyholders can nearly attend, take part, vote or submit questions on the digital Assembly on-line by registering by way of the hyperlink offered within the Firm’s administration data round, which will probably be posted on the Firm’s SEDAR Plus profile.
Clarification concerning earlier non-public placement
On December 22, 2022, the Firm closed a non-brokered non-public placement of flow-through models (the “Circulate-By means of Models”) of the Firm whereby it issued 10,000,000 Circulate-By means of Models of the Firm at a worth of $0.02 per flow-through unit, for gross proceeds of $200,000, with the proceeds thereof getting used for exploration on its mineral properties. It was lately delivered to the eye of the Firm that it had omitted to announce the closing of the Circulate-By means of Unit providing.
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Every Circulate-By means of Unit was comprised of 1 flow-through frequent share and one-half of 1 frequent share buy warrant, with every such entire warrant being exercisable for $0.05 per frequent share for a interval of 24 months following the issuance thereof. The Circulate-By means of Models have been supplied by means of the “accredited investor” exemption beneath Nationwide Instrument 45-106 – Prospectus Exemptions within the Province of Ontario and have been topic to a four-month maintain interval in Canada following the closing of the providing. The Firm didn’t pay any fee in reference to the issuance of Circulate-By means of Models.
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of the discharge.
ABOUT OPUS ONE GOLD CORPORATION
Opus One Gold Company is a mining exploration firm targeted on discovering prime quality gold and base metals deposits inside strategically situated properties in confirmed mining camps, near present mines within the Abitibi Greenstone Belt, north-western Quebec and north-eastern Ontario – one of the crucial prolific gold mining areas on the earth. Opus One holds property in Val-d’Or and Matagami areas.
For extra data, please contact:
Louis Morin
Chief Govt Officer & Director Tel.: (514) 591-3988
Michael W. Kinley, CPA, CA
President, Chief Monetary Officer & Director Tel: (902) 402-0388
Go to Opus One’s web site: www.OpusOneGold.com
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