Vancouver, June 8, 2021 - Opawica Explorations Inc.
(TSXV:OPW) (OTC:OPWEF) (the "Company" or "Opawica") is pleased to announce that it has initiated the process list the Company's common shares on the OTCQB Venture Market (the "OTCQB"). The listing of the Company's common shares on the OTCQB would be an upgrade from the current OTC Pink Market listing and remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements.
Blake Morgan, President and CEO of the Company, commented: "Application and admission to the OTCQB is part of our long-term strategy to grow our shareholder base in the United States, a market that traditionally has a strong demand for investment in Gold and Junior Miners. We have also begun to take steps to raise investor awareness in Markets in Asia, Europe, and Canada through disseminating translated materials and participating in Investor Conferences. This should take place over the coming few weeks."
The Company anticipates that the move to the OTCQB will provide enhanced investor benefits including access to the most current information while reducing the trading limits and restrictions, greater access to analyst coverage and news services, and more comprehensive compliance requirements. The OTCQB is considered by the Securities and Exchange Commission ("SEC") as an "established public market" for the purpose of determining the public market price when registering securities for resale with the SEC. The OTCQB increases transparency, management certification and compliance requirements, and most broker dealers trade stocks on the OTCQB. Historically this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
The OTCQB is a venture market designed for early-stage and developing US and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process.
Grant of Stock Options
The Company has granted 1,700,000 incentive stock options exercisable at $0.60 per share until June 8, 2026 to directors, officers and consultants of the Company. The stock options are subject to the acceptance of the TSX Venture Exchange.
About Opawica Explorations Inc.
Opawica is a Canadian mineral exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi gold belt in Quebec and in Central Newfoundland and Labrador. The Company's management has a great record in discovering and developing successful exploration projects. The Company's objective is to increase shareholder value through the development of exploration properties using cost-effective exploration practices, acquiring further exploration properties and seeking partnerships by either joint venture or sale with industry leaders.
FOR FURTHER INFORMATION CONTACT:
President and Chief Executive Officer
Opawica Explorations Inc.
Disclaimer for Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, and Exchange approval of the proposed Offering. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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