Opawica Explorations Inc. Suspends Private Placement
1100 – 595 Howe Street, Vancouver, BC Canada V6C 2T5 T (604) 681-3170, F (604) 681-3552, [email protected] www.opawica.com
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OPAWICA EXPLORATIONS INC. SUSPENDS PRIVATE PLACEMENT
Vancouver, B.C. – March 13, 2020 – Opawica Explorations Inc. (the “Company”) (TSX.V: OPW) announces that, due to financial market volatility associated with the outbreak and spread of a novel coronavirus (Covid-19), it is suspending the Company’s non-brokered private placement (the “Offering”) announced on January 30, 2020 for 30 days, during which time the Company will reassess market conditions to determine whether the Offering will continue. Management is hopeful that market conditions will stabilize over the coming weeks so that it can complete the Offering. However, Management can provide no assurance it can complete the Offering within the next 30 days given that the market downturn and events which may have caused it are beyond the Company’s control.
FOR FURTHER INFORMATION CONTACT:
Owen King Interim President and Chief Executive Officer Opawica Explorations Inc.
Telephone: 604-681-3170 Fax: 604-681-3552
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.