Omai Gold Mines Corp - President and CEO, Elaine Ellingham.
President and CEO, Elaine Ellingham.
Source: Alamos Gold.
  • Omai Gold Mines (OMG) has closed a non-brokered private placement for gross proceeds of $4,220,000
  • The company issued 84,400,000 common shares at $0.05 per share
  • The net proceeds will be used primarily to advance exploration at the company’s Omai Project in Guyana
  • Omai Gold Mines Corp. is a mineral exploration company operating in Guyana
  • Omai Gold Mines Corp. (OMG) opened trading at C$0.055

Omai Gold Mines (OMG) has closed its previously announced non-brokered private placement for gross proceeds of $4,220,000.

The company issued 84,400,000 common shares at $0.05 per share.

The net proceeds will be used to advance exploration on nearby targets and expand known Mineral Resources at the company’s Omai Project in Guyana.

The company paid cash finder’s fees of $170,100 and issued share purchase warrants to three arm’s-length finders in connection with the offering.

All securities issued are subject to a statutory hold period, expiring on April 23, 2023.

CEO Elaine Ellingham, commented on the company’s success in 2022.

“2022 was a transformational year for Omai Gold. We delivered two NI43-101 Mineral Resource Estimates: in January, we announced our initial resource estimate for Wenot and, in October, a second NI43-101 more than doubled the initial resource estimate announced in January, with a 14% expansion of the Wenot resource and the integration of the Gilt Creek gold resource.

In 2023, our goal is to further expand Omai’s already substantial gold resources through an aggressive drilling program focused on very prospective nearby exploration targets with similar geology to our known gold deposits. We believe that the Omai property has the potential to be a new gold camp with additional near-surface economic deposits within this proven geology that hosted past gold production of over 3.7 million ounces. Drilling is set to restart the second week of January.

With the completion of this financing and a solid base of resources, we are very well positioned to launch our next phase of exploration focused on new discoveries that would be a major catalyst for the company.”

Omai Gold Mines Corp. holds a 100-per-cent interest in the Omai Prospecting Licence that includes the past producing Omai gold mine in Guyana, and a 100-per-cent interest in the adjoining Eastern Flats Mining Permits, together covering 6,109 acres (24.69 km2).

Omai Gold Mines Corp. (OMG) opened trading at C$0.055.


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