Omai Gold Mines Corp. Announces Closing of C$40 Million Bought Deal Private Placement of Common Shares

Core Viewpoint - Omai Gold Mines Corp. has successfully closed a C$40 million bought deal private placement, issuing 34,783,000 common shares at a price of $1.15 per share, resulting in gross proceeds of C$40,000,540 [1][2]. Group 1: Offering Details - The offering was led by Paradigm Capital Inc. and included several other underwriters, with a total cash commission paid to the underwriters amounting to C$2,194,274.75 [2]. - The net proceeds from the offering will be allocated for exploration, development, and general working capital purposes [4]. - The securities issued are subject to a hold period of four months and one day from the closing date, pending final acceptance by the TSX Venture Exchange [4]. Group 2: Related Party Transactions - An officer of the company purchased 200,000 shares, which is classified as a "related party transaction" under Multilateral Instrument 61-101 [3]. - The company has utilized exemptions from formal valuation and minority shareholder approval requirements, as the value of shares issued to insiders does not exceed 25% of the company's market capitalization [3]. Group 3: Company Overview - Omai Gold Mines Corp. is focused on gold exploration and development, particularly at its 100%-owned Omai Gold Project in Guyana, which is recognized as a rapidly expanding gold camp [6]. - The company reported a 96% increase in the Wenot Gold Deposit's mineral resource estimate, now totaling 970,000 ounces of gold (Indicated) and 3,717,000 ounces (Inferred) [7]. - The overall mineral resource estimate for Omai, including the Wenot and Gilt Creek deposits, stands at 2,121,000 ounces of gold (Indicated) and 4,382,000 ounces (Inferred) [8].