/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
SASKATOON, SK,
Nov. 13,
2024 /CNW/ - Omineca Mining and Metals Ltd.
("OMM" or the "Company") (TSXV: OMM) (OTCQB: OMMSF)
reminds holders of the Company's outstanding rights
("Rights") (TSXV: OMM.RT) of important, upcoming deadlines
and details for the Rights offering ("Rights Offering")
announced on October 9, 2024.
Pursuant to the Rights Offering shareholders of record on
October 15, 2024 received Rights.
Each Right entitles the holder to purchase one-third (1/3) of one
(1) unit of Omineca (a "Unit"). Holders must exercise three
(3) Rights to acquire one (1) Unit at a subscription price of
$0.04 per Unit. Each Unit consists of
one (1) common share of the Company (a "Common share") and
one (1) transferable Common Share purchase warrant (a
"Warrant"), with each full Warrant exercisable into one (1)
Common Share at a price of $0.07 per
share for a period of 36 months from the issue date of the Units,
subject to early expiry in the event the daily volume-weighted
average trading price per Common Share for any 20 consecutive
trading days in which there have been at least 100 Common Shares
traded on the TSX Venture Exchange (the "TSXV") exceeds
$0.10.
Under the terms of the Rights Offering, shareholders can
oversubscribe for Units. If the Rights Offering is not fully
subscribed, those electing to oversubscribe will receive their over
subscription on a pro rata basis.
Important Details and Reminders
- Rights expire at 5:00 pm
Toronto (EST) time on November 20, 2024;
- You must take action to exercise or sell your Rights;
- Rights can be bought or sold publicly on the TSXV – symbol
"OMM.RT";
- Rights will trade for cash same day settlement on the expiry
date;
- Three (3) Right plus the sum of $0.04 entitles the holder to subscribe for one
Unit;
- The rights offering notice and rights offering circular are
available at www.sedarplus.ca and on the Company's
website: www.ominecaminingandmetals.com.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd.'s flagship Wingdam gold
exploration and placer recovery projects are located along the
Barkerville Highway 45 km east of the City of Quesnel. The Wingdam Property includes
mineral tenures totaling over 61,392 hectares (613 square kms) and
in excess of 15 linear kilometers of placer claims, both
encompassing the Lightning Creek valley where topographic
conditions created thick layers of overburden, which preserved a
large portion of a buried paleochannel containing placer
gold-bearing gravels. Omineca also has an exploration and diamond
drill program currently underway exploring for the potential
multiple hard rock sources of the placer gold at Wingdam.
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED
UNDER THE US. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT
BE OFFERED OR SOLD IN THE UNITED
STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH
REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE 1933 ACT.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Forward Looking Statements
This release contains forward-looking statements. All
statements, other than statements of historical fact that address
activities, events or developments that we believe, expect or
anticipate will or may occur in the future are forward-looking
statements. These forward-looking statements reflect our current
expectations or beliefs based on information currently available to
us. Forward-looking statements in this release include, without
limitation, statements with respect to: the closing of the Rights
Offering. Forward-looking statements are subject to a number of
risks and uncertainties that may cause our actual results to differ
materially from those discussed in the forward-looking statements
and, even if such actual results are realized or substantially
realized, there can be no assurance that they will have the
expected consequences to, or effects on, us. Factors that could
cause actual results or events to differ materially from current
expectations include, among other things, uncertainties relating to
the availability and cost of funds; uncertainties relating to
closing the Rights Offering; delays in obtaining or failure to
obtain required approvals to complete the Rights Offering; the
uncertainty associated with estimating costs to complete the Rights
Offering, including those yet to be incurred; uncertainty
respecting the trading of the Rights and the value of the Rights;
and other risks related to our business and the Rights Offering.
Any forward-looking statement speaks only as of the date on which
it is made and, except as may be required by applicable securities
laws, we disclaim any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Although we believe that the
assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and, accordingly, undue reliance should not be put on
such statements due to their inherent uncertainty.
Neither 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.
SOURCE Omineca Mining and Metals Ltd.