Opus One Gold raises $2.2 million in private placement

Opus One Gold Corporation (TSXV: OOR) announced the closing of a private placement that raised $2,228,825.31 in gross proceeds through the sale of flow-through shares and units.

The Montreal-based mining exploration company issued 21,014,338 flow-through shares at $0.075 each, generating $1,576,075.35. The company also sold 10,042,307 units at $0.065 per unit for $652,749.96. Each unit consists of one common share and one warrant that allows the holder to purchase an additional share at $0.10 within 24 months of closing.

Funds from the flow-through shares will be used for exploration activities on the company's mineral properties, while proceeds from the units will support general working capital and offering-related fees.

The offering was conducted under the accredited investor exemption across Canadian provinces. All securities are subject to a four-month hold period following the closing.

Opus One Gold paid $67,945 in finder fees and issued 870,363 compensation warrants to arm's length finders. These warrants are exercisable at $0.10 per share for 24 months.

Company director Patrick Fernet purchased 300,000 flow-through shares for $22,500 as part of the offering. This related party transaction was exempt from formal valuation and minority approval requirements as it represented less than 25% of the company's market capitalization.

The closing remains subject to TSX Venture Exchange approval and other standard conditions. The company also clarified that warrants from a previous April 2025 private placement have a 24-month term, not 36 months as initially indicated.

Opus One Gold focuses on exploring for gold and base metals deposits in Quebec's and Ontario's Abitibi Greenstone Belt, holding assets in the Val-d'Or and Matagami areas.

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