Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
MONTREAL, December 24, 2024 (GLOBE NEWSWIRE) — Opus One Gold Corporation (OOR: TSXV) (Opus One Gold or of Company), is pleased to announce the closing of the private sector (Shares of FT) and the Company’s shares (the Units) for a total income of $1,495,750 (the An offering).
In total, the Company issued 25,104,545 FT Shares for proceeds of $1,380,750 at a price per FT Share of $0.055 and 2,300,000 Units for proceeds of $115,000 at a price per Unit of $0.05, and the share each of the same Company. (a Share with each other) and one warrant to purchase a common share (each a Warrantand together, the Guarantees), with each Note entitling the holder to one share in common (each a Warrant Share) at an exercise price of $0.10 per Share for a period of 36 months following the closing of the Offering. All proceeds will be used by the Company to research its mineral properties, and all proceeds will be used for the Company’s general operating expenses and to pay fees related to the Offering.
The FT Share and Units were issued by way of exemption to registered investors under National Instrument 45-106 “Prospectus Releases in all Canadian provinces. Units, FT Shares, Shares, Warrants and Warrant Shares will be valid for four months in Canada after the closing of the Offer.
In total, the Company paid an 8% acquisition fee and issued 363,636 warrants to arm’s-length acquirers, and each such warrant will vest over time of 24 months after closing at a price of $0.055 per Share.
The closing is subject to the approval of the TSX Venture Exchange and other customary closing conditions.
Related Party Transaction (YES:)
Patrick Fernet, director of the Company, received 600,000 FT Shares for a total of $33,000. Patrick Fernet is then called Insider.
The Insider is considered a related party and an insider of the Company for purposes of applicable securities laws and stock exchange regulations. The registration and issuance of FT Shares by The Insider constitutes a related party transaction but is not exempt from the statutory standards and minority approval requirements of Rule 61-101 – Protection of Minority Holders Lits Special proceedings as it is not the fair market value of the common shares. provided to an Insider, even if the amount paid by such Insider, exceeds 25% of the market capitalization of the Company. The Insider abstained from voting on all matters related to the Offering.
A comment on past postings
On August 12 and September 11, 2024, the Company announced the closing of the first private placement of the company’s shares. The Company wishes to clarify the intended use of the net generated in the confidential area, which is $361,000, as follows (noting that no amount is paid to affiliate service providers, and less than 10% is paid to non-performing parties) :
| SERVICE COMPLIANCE | $ | |
| Summary (WHAT:) | 361,000 | |
| Management (CEO & CFO) | 36,000 | |
| Professional fees | 75,000 | |
| Management fees | 25,000 | |
| Office and administration | 25,000 | |
| Working capital | 200,000 | |
Neither the TSX Venture Exchange nor its Administrative Service 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 deposits within properties located within proven mining camps, adjacent to existing mines Abitibi Greenstone Belt, northwestern Quebec and northeastern Ontario – one of the largest gold mining areas in the world. Opus One has properties in the Val-d’Or and Matagami regions.
For more information, please contact:
Louis Morin
Chief Executive Officer and Director Phone: (514) 591-3988
Michael W. Kinley, CPA, CA
President, Chief Financial Officer and Director Phone: (902) 402-0388
info@OpusOneGold.com
Visit the Opus One website: www.OpusOneGold.com
Source: Opus One Gold Corporation Inc.
