The Conversation (0)
Opus One Gold Corporation (OOR: TSXV) ("Opus One Gold" or the "Company"), is pleased to announce the second and final closing of a non-brokered private placement 5,235,000 units of the Company (the "Units") at a price of $0.065 per Unit for further gross proceeds of $340,275 (the "Offering"). Each Unit is comprised of one common share of the Company (a "Share") and one common share purchase warrant (each a "Warrant", and together, the "Warrants"), with each Warrant entitling the holder to acquire one common share (each a "Warrant Share") at an exercise price of $0.10 per Share for a period of 24 months following the closing of the Offering.
Including the Company's December 30, 2025 closing of flow-through shares and Units, the Company raised aggregate gross proceeds of approximately $2,569,100 which will be used for exploration on its mineral exploration properties and for general working capital of the Company.
The Units were offered by way of the "accredited investor" exemption under National Instrument 45-106 – Prospectus Exemptions in all the provinces of Canada. The Units, FT Shares, Shares, Warrants and Warrant Shares are subject to a four-month hold period in Canada following the closing of the Offering.
In respect of the second tranche, the Company paid $1,067.50 in cash finders fees and issued a total of 43,200 compensation warrants to arm's length finders, with each such compensation warrant being exercisable for a period of 24 months following the closing at a price of $0.10 per Share.
Closing is subject to the approval of the TSX Venture Exchange and other customary closing conditions.
Related Party Transaction
Louis Morin, a director and officer of the Company, and Charles Chevrette, a director of the Company, acquired 500,000 Units and 400,000 Units, respectively, aggregate consideration of $58,500. Louis Morin and Charles Chevrette are hereinafter referred to as the "Insiders".
The Insiders are considered a "related parties" and "insiders" of the Company for the purposes of applicable securities laws and stock exchange rules and their subscriptions are considered as "connected transactions". The subscriptions and issuances of Units to the Insiders constitute a related party transactions but are exempt from the formal valuation and minority approval requirements of Regulation 61-101 - Protection of Minority Security Holders in Special Transactions as neither the aggregate fair market value of the common shares issued to the Insiders, nor the aggregate consideration paid by such Insiders, exceeds 25% of the Company's market capitalization. The Insiders both abstained from voting on all matters relating to the Offering.
Neither the 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 the release.
ABOUT Opus One Gold Corporation
Opus One Gold Corporation is a mining exploration company focused on discovering high quality gold and base metals deposits within strategically located properties in proven mining camps, close to existing mines in the Abitibi Greenstone Belt, north-western Quebec and north-eastern Ontario - one of the most prolific gold mining areas in the world. Opus One holds assets in Val-d'Or and Matagami areas.
For more information, please contact:
Louis Morin
Chief Executive Officer & Director Tel.: (514) 591-3988
Michael W. Kinley, CPA, CA
President, Chief Financial Officer & Director Tel: (902) 402-0388
Visit Opus One's website: www.OpusOneGold.com
