Opus One Gold Corporation Announces Closing of a Second Tranche of Its Private Placement of Units

Core Viewpoint - Opus One Gold Corporation has successfully completed a non-brokered private placement, raising a total of approximately $2,569,100 for exploration and working capital purposes [1][2]. Group 1: Private Placement Details - The second and final closing of the private placement involved 5,235,000 units at a price of $0.065 per unit, generating gross proceeds of $340,275 [1]. - Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.10 per share for 24 months [1]. - The total amount raised from the private placement will be allocated for exploration on mineral properties and general working capital [2]. Group 2: Regulatory and Transactional Aspects - The units were offered under the "accredited investor" exemption in Canada and are subject to a four-month hold period post-closing [3]. - In the second tranche, the company paid $1,067.50 in cash finders fees and issued 43,200 compensation warrants, also exercisable at $0.10 per share for 24 months [4]. - The transactions involving insiders Louis Morin and Charles Chevrette, who acquired 500,000 and 400,000 units respectively, are classified as related party transactions but are exempt from formal valuation requirements [5][6]. Group 3: Company Overview - Opus One Gold Corporation is focused on mining exploration, particularly in the Abitibi Greenstone Belt, a region known for its rich gold deposits [8]. - The company holds assets in the Val-d'Or and Matagami areas, which are strategically located near existing mines [8].