Opus One Gold: Unveiling Exploration Potential with Private Placement
Tuesday, Dec 24, 2024 5:28 pm ET
Opus One Gold Corporation (OOR: TSXV) has recently announced the closing of a non-brokered private placement, raising $1,495,750 for exploration and working capital. This strategic move aligns with the company's focus on discovering high-quality gold and base metals deposits within the prolific Abitibi Greenstone Belt. Let's delve into the details of this private placement and its implications for Opus One Gold's exploration plans.
The private placement consisted of the issuance of 25,104,545 flow-through shares (FT Shares) and 2,300,000 units (Units) of the Company. The gross proceeds from the FT Shares, amounting to $1,380,750, will be allocated for exploration on Opus One Gold's mineral exploration properties. The net proceeds from the Units, totaling $115,000, will be used for general working capital and payment of fees related to the Offering.

Opus One Gold's strategic positioning in the Casa-Berardi-Douay-Cameron gold district within the Abitibi Greenstone Belt provides a competitive advantage. The company's extensive land package enables it to explore a large, highly prospective area for gold, increasing the likelihood of further discoveries. Opus One Gold's exploration strategies include area surveys and definition drilling, which are crucial for maximizing its potential for gold discoveries in this prolific mining region.
The involvement of an insider, Patrick Fernet, in the private placement highlights the company's commitment to transparency and good governance. Fernet, a director of Opus One Gold, acquired 600,000 FT Shares for $33,000. To address potential conflicts of interest, the Insider abstained from voting on Offering-related matters. The transaction is exempt from formal valuation and minority approval requirements, as neither the fair market value of shares nor the consideration paid exceeds 25% of the Company's market capitalization.
In conclusion, Opus One Gold Corporation's recent private placement is a testament to the company's commitment to exploration and growth within the Abitibi Greenstone Belt. With a strategic focus on the Casa-Berardi-Douay-Cameron gold district and a well-structured exploration plan, Opus One Gold is poised to unlock the full potential of its mineral exploration properties. As the company advances its projects, investors can expect to see increased shareholder value and potential new discoveries in the coming years.
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