Vancouver, British Columbia--(Newsfile Corp. - February 4, 2019) - Opawica Explorations Inc. (TSXV: OPW) (the "Company")
announces that by a resolution of the Board of Directors of the Company passed effective January 31, 2019, the Directors are
authorized to consolidate the issued and outstanding common shares of the Company on a basis of one (1) new common share for every
two (2) existing common shares (the "Share Consolidation"). Currently, there are 16,024,165 common shares issued and outstanding
and following the Share Consolidation, 8,012,082 common shares will be issued and outstanding. It is anticipated that the Share
Consolidation will be implemented as soon as practicable.
The Board of Directors is proceeding with the Share Consolidation on the basis that it will provide the Company with increased
flexibility to seek additional financing opportunities and strategic acquisitions. The Share Consolidation is subject to the
acceptance of the TSX Venture Exchange. The Company's name and stock symbol will remain unchanged following the Share
Consolidation.
ABOUT OPAWICA EXPLORATIONS INC.
Opawica Explorations Inc. is a junior resource company engaged in the acquisition, exploration and evaluation of gold and base
metal mineral properties in Canada. The Company owns 100% interest subject to certain royalties in the Bazooka gold property
located in the Beauchastel Township approximately seven kilometres southwest of Rouyn-Noranda, Quebec. The Bazooka property
comprises seven contiguous kilometres of strike length along the prolific Abitibi Gold Belt on the Cadillac Larder Lake Break. The
eastern border of the Bazooka gold property adjoins Yorbeau Resources Inc.'s Rouyn Property and the western border adjoins
Monarques Gold Corporation's Wasamac gold property (2,882,000 oz Au resources per Monarques NI 43-101 technical report dated
October 25, 2017). The Company also holds 100% interest subject to certain royalties in the McWatters gold property in the
Rouyn-Noranda area and the Arrowhead gold property in the Joannes Township, Quebec.
For more information, please visit the Company's website at www.opawica.com.
FOR FURTHER INFORMATION CONTACT:
Owen King
Interim President and Chief Executive Officer
Opawica Explorations Inc.
Telephone: 604-681-3170
Fax: 604-681-3552
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42614
