Source: Omai Gold Mines Corp.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

More From The Market Herald
Barrick Gold - CEO, Mark Bristow

" Barrick Gold (TSX:ABX) announces $70M investment in Tanzanian communities

Barrick Gold Corporation (ABX) has announced a $70 million investment to support the development and infrastructure of Tanzanian mine communities.

" Durango (TSXV:DGO) closes $515K flow through financing

Durango Resources (DGO) has closed its private placement for gross proceeds of C$515,500.
Tocvan Ventures (CSE:TOC) - CEO, Brodie Sutherland.

" Colibri (CBI) and Tocvan (TOC) report gold discoveries at Pilar Gold & Silver Project

Tocvan Ventures (TOC) and Colibri Resource Corp (CBI) have received drilling results from the Pilar Project.

" Pure Gold Mining (TSXV:PGM) closes $31M non-brokered private placement

Pure Gold Mining (PGM) has closed the final tranche of a non-brokered private placement for total gross proceeds of C$31,086,144.