Opus One Gold Corporation Announces Private Placement of Up to $500,000

MONTREAL, May 08, 2024 (GLOBE NEWSWIRE) -- Opus One Gold Corporation (OOR: TSXV) (“Opus One Gold” or the “Company”), is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$500,000 from the sale of units of the Company (the “Units”). Each Unit shall be issued at price per Unit of $0.02 and shall be comprised of one common share of the Company (a “Share”) and one common share purchase warrant (each a “Warrant”, and together, the “Warrants”), with each Warrant entitling the holder to acquire one Share at an exercise price of $0.05 per Share for a period of 24 months following the closing of the offering.

The Units will be offered by way of the “accredited investor” exemption under National Instrument 45-106 – Prospectus Exemptions in all the provinces of Canada. The Units, Shares, Warrants and Warrant Shares will be subject to a four-month hold period in Canada following the closing of the offering.

In accordance with TSX Venture Exchange policies, the Company is relying on a minimum price exception in order to issue securities at less than $0.05 per listed security. As such, the Company will not issue more than 100% of its issued and outstanding Shares pursuant to the offering.

The gross proceeds from the issuance of the Units is estimated as follows:

	USE OF PROCEEDS
	Total proceeds	$500,000
	Management (CEO &CFO)	50,000
	Professional fees	75,000
	Shareholder communications	20,000
	Regulatory fees	25,000
	Office and administration	25,000
	Working capital	105,000
	Property payment	200,000
		$500,000

In connection with the Offering, the Company may pay finder’s fees and issue finder warrants to arm’s length finders, consisting of: (i) cash finder's fees of up to 5 per cent of the gross proceeds of the offering; and (ii) finder warrants in an amount equal to up to 5 per cent of the number of Units issued pursuant to the offering, exercisable at a price of $0.05 per common share for a period of two years following the closing date.