Opus One Gold Announces Closing of Private Placement by Investing.com

Montreal, December 24, 2024 (GLOBE NEWSWIRE) — Opus One Gold Inc. (OOR: TSXV) (Opus One Gold or a company), is pleased to announce the closing of the non-brokered private placement of flow-through shares (Ft shares(and company units) Units) for total gross proceeds of $1,495,750 ( an offer).

In total, the Company has issued 25,104,545 Common Shares for aggregate proceeds of $1,380,750 at a per share price of $0.055 and 2,300,000 Units for aggregate proceeds of $115,000 at a per unit price of $0.05, each unit consisting of one common share of the Company (A Share) and one common stock purchase warrant (each A noteAnd together orders), with each warrant entitling the holder to one common share (each A Security share) at an exercise price of $0.10 per share for a period of 36 months after the closing of the offering. The aggregate amount raised from the issuance of FT Shares will be used by the Company to explore for its mineral exploration properties and the net proceeds generated from the issuance of the Units will be used for general working capital of the Company and to pay fees related to the Offer.

The FT Shares and Units are being offered by way of an accredited investor exemption under National Instrument 45-106 “Prospectus Exemptions” in all provinces of Canada. The Units, FT Shares, Shares, Warrants and Sponsored Shares are subject to a four-month holding period in Canada following the closing of the Offering.

In total, the Company paid 8% of the cash finders' fees and issued a total of 363,636 compensation warrants to the independent finders, with each compensation warrant exercisable for 24 months after closing at a price of $0.055 per share.

Closing is subject to TSX Venture Exchange approval and other customary closing conditions.

Related party practical (Joe:)

Patrick Vernet, the company's director, received 600,000 shares for a total of $33,000. Patrick Vernet is hereinafter referred to as “Insider”.

An insider is considered a related party and an insider of the company for purposes of applicable securities laws and stock exchange rules. The subscription and issuance of FT shares by an insider constitutes a related party transaction but is exempt from the formal valuation and minority approval requirements set forth in Regulation 61-101 – Protection of Minority Securities Holders in Private Transactions as the fair market value of the common shares issued to the insider, not to exceed the consideration Paid by this insider is 25% of the company's market value. Insider abstained from voting on all matters relating to the offering.

Clarification regarding the previous private placement

On August 12 and September 11, 2024, the Company announced the closing of the previous private placement of units of the Company. The Company wishes to explain the intended use of the net proceeds raised from the said Private Placement, amounting to $361,000, as follows (noting that no amount was paid to IR providers, and less than 10% was payable to non-commercial parties):

Neither the 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 the release.

About OPUS ONE GOLD

Opus One Gold Corporation is a mining exploration company focused on discovering high-grade gold and base metal deposits within strategically located properties in proven mining camps, close to existing mines in the Abitibi greenstone belt, northwestern Quebec and northeastern Ontario – one of the most prolific gold mining areas in the world. Opus One has assets in the Val-d'Or and Matagami regions.

For more information, please contact:

Louis Morin
CEO & Director Tel: (514) 591-3988

Michael W. Kinley, CPA, California
President, CFO and Director Tel: (902) 402-0388

info@OpusOneGold.com

Visit the Opus One website: www.OpusOneGold.com

Source: Opus One Gold Corporation.