Opawica Closes Oversubscribed Non-Brokered Private Placement

Opawica Explorations Inc. closed an oversubscribed non-brokered private placement on August 25, 2026, raising gross proceeds of $1,733,433. The company issued 17,334,330 units at $0.10 per unit, with each unit comprising one common share and one-half of one warrant. The warrants are exercisable at $0.20 per share and expire on August 24, 2028. An acceleration clause triggers if the share price closes at or above $0.30 for ten consecutive trading days after December 25, 2026.

Net proceeds are allocated to drilling new high-priority targets at the Arrowhead property, general working capital, and market awareness. Insiders participated by purchasing 1,375,000 units. The financing follows the July 24, 2026 announcement and the August 6, 2026 exploration update detailing a planned 10,000-metre drill program at Arrowhead.

Opawica Explorations Inc. (OPW) announced a routine follow-up financing to its previously announced capital raise, a move designed to provide necessary liquidity for a planned 10,000-metre drilling campaign at Arrowhead and to cover working capital obligations. The transaction resulted in the issuance of approximately 17.3 million new shares, a dilutive impact typical for pre-revenue explorers.

The capital raise included insider participation and saw oversubscription, though the company notes that the funds do not de-risk the exploration program or alter the company's fundamental going-concern status. The deal includes warrants with a $0.20 exercise price, which sets a near-term overhang, while a $0.30 acceleration clause provides a potential upside catalyst if the stock rallies. This news is considered incremental and expected, extending the cash runway without constituting a material shift in the investment thesis.

Opawica Explorations Inc. (OPW) is an exploration-stage gold company focused on the Abitibi Greenstone Belt in Quebec, Canada. Its flagship properties include the 100%-owned Arrowhead project, which sits immediately adjacent to Agnico Eagle's producing LaRonde Complex, and the Bazooka project, which is contiguous to Yamana Gold's Wasamac project.

The company utilizes AI-driven targeting through ALS GoldSpot Discoveries to identify high-priority drill zones. Historical drilling at Arrowhead returned high-grade gold in every hole, with intercepts up to 18.7 g/t Au. Bazooka features historical intercepts up to 77.18 g/t Au.

No mineral resources or reserves have been defined. The company is in the early exploration phase, relying on geological modeling, geophysics, and drilling to validate targets.