Omineca Mining and Metals Ltd. announced a brokered, best-efforts basis, private placement of 18,181,818 flow-through units at a price of CAD 0.11 per FT unit, for gross proceeds of up to CAD 2,000,000 on March 8, 2023. Each FT unit shall be comprised of one common share of the company and one purchase warrant of the company. Each Warrant shall entitle the holder thereof to purchase one common share at an exercise price of CAD 0.14 for a period of 36 months from closing.

The transaction is expected to close on or about March 22, 2023, or such later date as the company may determine. The Closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The insiders of the company may participate in the transaction.

The Company will pay to the agent a 6.5% cash commission based on the aggregate gross proceeds and will also grant on the date of closing, non-transferable broker warrants equal to 6.5% of the total number of FT Units sold pursuant to the transaction. Each Broker Warrant shall entitle the holder thereof to purchase one unit of the company at an exercise price of CAD 0.11 per unit for a period of 36 months following the closing. The company will grant the agent an option to increase the size of the transaction by up to 15% of the number of FT Units by giving written notice of the exercise of the agent's option, or a part thereof, to the company at any time up to 48 hours prior to the closing date.