Opawica closes oversubscribed non-brokered private placement

Opawica Closes Oversubscribed Non-Brokered Private Placement

(TheNewswire)

 

Vancouver, Canada – TheNewswire - August 25, 2026 – Opawica Explorations Inc. (the “Company” or “Opawica”) (TSXV: OPW) (OTCQB: OPWEF), announces that, further to its news release of July 24, 2026, it has closed its non-brokered private placement and raised $1,733,433 through the issuance of 17,334,330 units (the “Units”) at a price of $0.10 per Unit. Each Unit is comprised of one common share and one-half of one share purchase warrant (a “Warrant”) with each whole Warrant entitling the holder to purchase one common share at a price of $0.20 per warrant share for two years expiring August 24, 2028, provided that in the event the closing price of the Company’s common shares on the TSX Venture Exchange is equal to or greater than $0.30 per share for ten consecutive trading days at any time after December 25, 2026, the Company may, by notice to the warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the warrants to not less than 30 days following the date of such notice.

 

The Company paid finders fees of $46,320 and issued 463,200 non-transferable finder warrants at a price of $0.20 for two years expiring August 24, 2028. All securities issued are subject to a four month hold period expiring December 25, 2026.

 

The Company intends to use the net proceeds to drill new high priority drill targets at its Arrowhead property, general working capital and market awareness. 

 

Insiders of the Company purchased 1,375,000 units for investment purposes. The private placement and the acceptance of the subscription by the Insiders was approved by unanimous resolution of the board of directors of the Company. There was no formal valuation of the Company done in connection with the private placement nor has there been such a formal valuation in the past 24 months. The Company relied upon the exemptions contained in Section 5.5(b) and 5.7(b) of Multilateral Instrument 61-101 (“MI 61-101”) to avoid the formal valuation and shareholder approval requirements of MI 61-101. For the purposes of Section 5.5(b), the Company does not have any securities listed on any of the stock exchanges set out in Section 5.5(b) and for the purposes of Section 5.7(b) the exemption was available as the consideration paid for the units subscribed for by the Insiders was less than $2,500,000.

 

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "