Funds From Private Placement To Support Namesake Mine
Omai Gold Mines Corp. (TSXV:OMG) has successfully 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 per Unit for aggregate gross proceeds of C$4,999,999.
Silvercorp, an existing shareholder, acquired 4,464,706 Units pursuant to the Offering for gross proceeds of C$759,000. As a result, Silvercorp holds an approximately 15.2% equity stake in the company on a basic basis and 16.0% on a partially diluted basis.
The proceeds from the Offering will be used for an expanded exploration program at the Omai Gold Project in Guyana.
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.
About Omai Gold Mines Corp.
Early prospectors identified Guyana’s vast mineral wealth 130 years ago, and at the heart of the country’s gold mining history is the Omai mine: a multi-million-ounce deposit that was once South America’s largest producing gold mine. We’re building on this past success with new tools, relationships and vision to bring this under-explored gold district back to life, providing a unique opportunity for all stakeholders to participate in value creation.
Avalon Gold Exploration Inc., a wholly owned subsidiary of Omai Gold Mines Corp., holds a 100% interest in the Omai Prospecting License covering 4,590 acres, including the past producing Omai gold mine.
For further information please visit: https://www.omaigoldmines.com
