 |
 | |
 |  |
| We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level. |
With the completion of property acquisition and the amount they paid, does anybody have any further information. Opawica Explorations Inc. - News Release TORONTO, ONTARIO-- Shares Issued: 8,733,933 Warrants: NIL Opawica Explorations Inc. ("Opawica" / the "Company") is pleased to announce that the Company has received regulatory approval and concluded all of the following transactions as previously announced by the Company: 1) The acquisition of a 100 percent interest in five properties in the Valle del Cura region in the vicinity of Argentina Gold Corp.'s Veladero property. Opawica may earn its interest in these 5 properties known as Los Despoblados, La Ortiga Norte, Los Banitos, Arroyo Sepultura and Las Maquinas by paying the vendors US$95,000 in cash and 100,000 common shares of Opawica over two years. 2) The approval of a private placement consisting of 1,675,000 common shares of the Company at $.30 per share for gross proceeds of $502,500. 3) The approval of an agreement whereby Opawica has acquired up to a 100 percent interest in 48 patented and leased claims in Kidd, Carnegie, Godfrey and Wark Townships located in the Timmins Mining Camp in Northern Ontario. One of the property interests acquired under this agreement is a 10 percent Net Profits Interest in the Chance North property which is adjacent to the Kidd Creek Mine. Consideration paid by Opawica under this agreement is CDN$350,000 in cash and 300,000 common shares of Opawica. 4) The approval of an agreement with White Star Copper Mines Ltd. and several other underlying vendors to acquire a further six properties in Kidd and Carnegie Townships, Ontario. Two of these properties are known as Whitestar #1 and Whitestar #2 which are approximately 1,000 meters west of the Kidd Creek Mine. The Company may acquire a 100 percent interest in Whitestar #1 and #2 by paying a further $20,000 in cash per property and 100,000 common shares of Opawica per property on or before February 28, 1999. Thereafter, Opawica must make optional payments of $12,500 per property every six months for so long as Opawica wishes to maintain its interest in a specific property. Up to 100 percent of the remaining four properties known as Rimmer, Belleterre, Wigley and St. Lucie shall be acquired by Opawica paying a further $12,500 per property every six months for so long as Opawica wishes to maintain its interest in such property or properties. These payments are to commence April 30, 1999. 5) Lastly, the Company has received regulatory approval for the acquisition of up to 157,000 Ha of properties collectively known as the Cura Este Property which adjoins the eastern boundaries of Opawica's La Ortiga Norte and Los Despoblados properties in the Valle del Cura region, Argentina. Opawica may earn its 100 percent interest in the Cura Este Property by making payments and incurring costs of up to US$190,000 as well as paying 50,000 common shares of the Company within the next three years. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Opawica Explorations Inc. Dan M. Clark President (416) 597-1480 (416) 597-1479 (FAX) Email: opawica@istar.ca Website: canadianfinance.com | ||||||||||||||
|
| Home | Hot | SubjectMarks | PeopleMarks | Keepers | Settings |
| Terms Of Use | Contact Us | Copyright/IP Policy | Privacy Policy | About Us | FAQ | Advertise on SI |
| © 2025 Knight Sac Media. Data provided by Twelve Data, Alpha Vantage, and CityFALCON News |