Proceeds To Support Expanded Exploration Programme
Due to strong investor demand Omai Gold Mines Corp. (TSXV:OMG) has increased its previously announced non-brokered private placement offering from aggregate gross proceeds of up to C$3 million, to aggregate gross proceeds of C$5 million.
The company has also announce that Silvercorp Metals Inc., an existing shareholder, has increased its previously announced lead order from approximately C$455,000 to approximately C$759,000 of the Offering. Assuming total gross proceeds from the Offering of C$5,000,000, Silvercorp is expected to hold an approximately 15.2% equity stake in the Company on a basic basis and increase its current ownership to 16.0% on a partially diluted basis.
The proceeds from the Offering will be used for an expanded exploration programme at the Omai Gold Project in Guyana.
The Offering is expected to close on or about June 21, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.
