- Omai Gold Mines Corp. (OMG) has closed the first tranche of a $2.5M private placement for gross proceeds of $2 million
- The company issued 16.6 million units priced at $0.12 per unit
- Proceeds will be used for an expanded exploration program at the Omai Gold Project, and for general corporate purposes
- Finder’s fees and warrants were issued
- Omai Gold Mines Corp. (OMG) is down 4.17 per share and is trading at $0.11 per share as pf 1:12 a.m. ET
Omai Gold Mines Corp. (OMG) has closed the first tranche of a $2.5 million private placement with a lead order from an institutional investor.
The company closed the first tranche of the offering for gross proceeds of $2 million issuing 16.6 million units at a price of $0.12 per unit.
Each unit consists of one common share and one-half of a common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of $0.17 for a two-year period from the closing date. The final tranche will be closing shortly.
The proceeds from the offering 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 Gold, stated,
“This financing further supports our accelerated exploration currently underway at our 100 per cent owned Omai Gold Project in Guyana… We have one drill testing the west extension of the Wenot deposit, while the other drill continues to explore the additional nearby targets identified by our exploration team.”
Finders fees of 6.00 per cent cash and 6.00 per cent finders warrants were paid to certain finders involved in the offering. Each finders warrant entitles the holder to acquire one common share of the company at a price of $0.12 for during the same two-year period.
Omai Gold Mines Corp. (OMG) is down 4.17 per share and is trading at $0.11 per share as pf 1:12 a.m. ET.