Opawica Explorations Announces Non-Brokered Private Placement for Aggregate Proceeds of CAD $1,500,000

Opawica Explorations Inc. (OPW) has announced a non-brokered private placement of up to 15,000,000 units priced at $0.10 per unit, targeting gross proceeds of up to $1,500,000 CAD. Each unit consists of one common share and one-half of one share purchase warrant. The warrants are exercisable at $0.20 per share for a period of 24 months, featuring an acceleration clause that triggers if the stock trades above $0.30 for 10 consecutive days.

The company intends to use the proceeds for drilling high-priority targets at the Arrowhead property, general working capital, and market awareness initiatives. The closing of the transaction is subject to TSX Venture Exchange approval and carries a 4-month and 1-day statutory hold period.

Opawica Explorations Inc. (OPW) reported a cash balance of just $4,979 and a working capital deficiency of $87,850 as of February 28, 2026, prompting the issuance of 15,000,000 new shares and 7,500,000 warrants to address its immediate liquidity needs. The capital raise funds the company’s previously announced 10,000-meter drill program at Arrowhead, enabling it to proceed with its exploration roadmap.

The warrants carry a $0.20 exercise price, placing them 100% out-of-the-money against the current share price of $0.10, which minimizes immediate sell-side pressure. This financing aligns with the company’s historical funding patterns and its status as an exploration-stage entity, though it does not alter the fundamental asset valuation or mitigate exploration risk.

Opawica Explorations Inc. (OPW) is a junior gold explorer focused on the Abitibi Greenstone Belt in Quebec, Canada. Its flagship properties include the 100%-owned Arrowhead project, which is fully surrounded by Agnico Eagle's LaRonde complex, and Bazooka, which is contiguous to Yamana Gold's Wasamac project.

The company is in the exploration stage, with no NI 43-101 resources or reserves defined. It utilizes AI-driven target generation via GoldSpot Discoveries alongside traditional geophysics and drilling. Historical drilling has returned high-grade intercepts, but the company remains in the target generation and validation phase.