Opus One Resources Announces First Closing of Private Placement.
MONTREAL, Dec. 31, 2019 (GLOBE NEWSWIRE) — OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX Venture Exchange: OOR), announces the first closing of a unit and flow-through share non-brokered private placement (the “Offering”) for total gross proceeds of $460,000. In total, the Company issued 7,360,000 flow-through common shares (the “Flow-Through Shares”) at a price of $0.0625 per Flow-Through Share. The first closing forms part of a larger Offering of up to 10,000,000 Units at a price of $0.05 per Unit and 8,000,000 Flow-Through Shares for total gross proceeds of $1,000,000. The Company expects to proceed shortly with the second closing of the Offering.
In connection with the first closing of Offering, the Company paid total finders’ fees of $36,000 in cash and issued 576,000 non-transferable share purchase warrants, each warrant entitling the holder thereof to purchase one common share of the Company at a price of $0.07 per share until December 30, 2021. The securities issued under the first closing are subject to a four month hold period ending May 1, 2020. The Offering remains subject to the final approval of the TSX Venture Exchange. The proceeds of the Offering will be used by the Company to advance its exploration projects within Quebec.About Opus One Resources Inc.Opus One Resources Inc. 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, Matagami and Chibougamau areas. Opus controls a 100% interest in the following projects:Bachelor Extension property is adjacent to Bonterra Resources Inc.- Bachelor Gold Mine;Vezza Extension and Vezza North are located few kilometers West and North of Nottaway Resources’ Vezza Mine;Courvillle property is located east of Val D’Or;Fecteau property (option to earn 100%), located in the Urban-Barry greenstone belt, east of Osisko Mining’s Windfall Lake deposit, currently one of the most active exploration area in Canada.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.For more information, please contact:Louis Morin, CEO & Director
T (514) 591-3988
[email protected]Michael W. Kinley, CPA, CA
President, CFO & Director
T (902) 826-1579
F (902) 826-2550
C (902) 402-0388
[email protected]Visit Opus One’s website: www.OpusOneResources.com