- Omai Gold Mines (OMG) has closed the second and final tranche of its non-brokered private placement for total gross proceeds of $2,608,000
- The final tranche consists of 5,066,667 units at a price of $0.12 per unit for proceeds of $608,000
- Proceeds will be used for an expanded exploration program at the Omai Gold Project
- Omai Gold Mines Corp is a mineral exploration company
- Omai Gold Mines Corp. (OMG) opened trading at C$0.105 per share
Omai Gold Mines (OMG) has closed the second and final tranche of its non-brokered private placement.
The company issued a total of 21,733,333 units for gross proceeds of $2,608,000.
The final tranche consists of 5,066,667 units at a price of $0.12 per unit for proceeds of $608,000. Each unit consists of one common share and one-half of a common share purchase warrant.
Each whole warrant entitles the holder to acquire one common share at a price of $0.17 for a period of 24 months from the closing date.
Proceeds will be used for an expanded exploration program at the Omai Gold Project and for general corporate purposes.
Elaine Ellingham, President and CEO of Omai commented on the capital raise.
“This financing further supports our accelerated exploration currently underway at our 100%-owned Omai Gold Project in Guyana and we are delighted to see most of the financing taken by new shareholders, and we appreciate the on-going support from existing shareholders that participated.”
The company paid $133,920 in finders’ fees and issued 1,116,000 finders’ warrants.
All common shares issued will be subject to a four-month hold period.
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) opened trading at C$0.105 per share.