- Omai Gold Mines has closed its non-brokered private placement for gross proceeds of C$4,999,999
- The company issued 29,411,757 units at a price of C$0.17
- Each unit consists of one common share and one-half of a common share purchase warrant
- Silvercorp, an existing shareholder, acquired 4,464,706 units for gross proceeds of C$759,000
- Omai Gold Mines Corp is a mineral exploration company. Its Omai gold mine is located in Guyana, on the North coast of South America
- Omai Gold Mines Corp. (OMG) is unchanged, trading at $0.17 per share at 425 pm ET
Omai Gold Mines (OMG) has closed its non-brokered private placement with a lead order from Silvercorp Metals Inc.
The company issued 29,411,757 units at a price of C$0.17 for gross proceeds of C$4,999,999.
Each unit consists of one common share and one-half of a common share purchase warrant. Each full warrant entitles the holder to acquire one common share at an exercise price of C$0.23 for a period of 36 months from the closing date of the offering.
Silvercorp, an existing shareholder, acquired 4,464,706 units for gross proceeds of C$759,000. Silvercorp now holds an approximately 15.2% equity stake in Omai Gold on a basic basis and 16.0% on a partially diluted basis.
Proceeds will be used for an expanded exploration program at the Omai Gold Project.
Finders’ fees of C$201,068 cash and 1,182,752 broker warrants were paid to certain finders. Each broker warrant entitles the holder to acquire one common share of the company at a price of C$0.17 for a period of 36 months from the date of issuance.
Common shares and purchase warrants will be subject to a four-month and one day hold period from the closing date.
The private placement is subject to TSX Venture Exchange approval.
Omai Gold Mines Corp is a mineral exploration company. Its Omai gold mine is located in Guyana, on the North coast of South America.
Omai Gold Mines Corp. (OMG) is unchanged, trading at $0.17 per share at 425 pm ET.
