Opawica Explorations Inc. announced a non-brokered private placement of 5,400,000 units at a price of CAD 0.10 per for aggregate gross proceeds of CAD 540,000 on April 17, 2023. Each unit will comprise of one common share and one whole common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at CAD 0.15 per share for a period of three year.

The common shares will have a staggered release of four months and one day, eight months and twelve months following date of issuance and the warrant shares will have an acceleration clause. The company may pay finder's fees or brokers' commissions in the transaction. All Shares issued in connection with the offering will be subject to a statutory hold period of four months and one day after closing of the offering, eight months, and twelve months following the date of issuance.

The private placement is subject to certain conditions, including the approval of the listing and trading of the common shares and the warrant shares on the TSX Venture Exchange.