SASKATOON, SK, Oct. 15, 2024 /CNW/ - Omineca Mining and Metals Ltd. (TSXV: OMM) (TSXV: OMM.RT) (OTCBB: OMMSF) ("Omineca" or the "Company") announces that it has made application to the TSX Venture Exchange (the "Exchange") to extend the expiry date of an aggregate 9,374,999 outstanding common share purchase warrants (the "Warrants") due to expire November 16, 2024.
The Warrants were issued in connection with a private placement transaction that closed on November 16, 2022, and are currently exercisable at $0.12 per common share.
Under the proposed amendment to the Warrants, the Company proposes to extend the expiry date for a further 12-month period to November 16, 2025, with all other terms of the Warrants remaining the same. The proposed amendment is subject to approval by the Exchange.
Omineca Mining and Metals Ltd.'s flagship Wingdam gold exploration and placer recovery projects are located along the Barkerville Highway 45 km east of the City of Quesnel. The Wingdam Property includes mineral tenures totaling over 61,392 hectares (613 square kms) and in excess of 15 linear kilometers of placer claims, both encompassing the Lightning Creek valley where topographic conditions created thick layers of overburden, which preserved a large portion of a buried paleochannel containing placer gold-bearing gravels. Omineca also has an exploration and diamond drill program currently underway exploring for the potential multiple hard rock sources of the placer gold at Wingdam.
Forward Looking Statements
This release includes forward-looking statements regarding Omineca and its business. Such statements are based on the current expectations and views of future events of Omineca's management. In some cases, the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of the failure to secure TSX Venture Exchange of the grant of options and many other factors beyond the control of Omineca. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Forward-looking statements speak only as of the date on which they are made and Omineca undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Omineca Mining and Metals Ltd.
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