Omega Pacific Resources Inc. Announces Closing of Private Placement

VANCOUVER, BC / ACCESSWIRE / April 10, 2024 / Omega Pacific Resources Inc. (CSE:OMGA) ("Omega" or the "Company") is pleased to announce the closing of its Non-Brokered Private Placement (the "Private Placement") announced March 27, 2024. The Private Placement consisted of the issuance of 6,184,000 common shares (each a "Common Share") of the Company on April 8, 2024 at a price of $0.50 per Common Share for gross proceeds of $3,092,000.

The Company intends to use the net proceeds raised from the Private Placement for exploration of the Company's Lekcin and Williams properties, Williams Property option agreement cash commitments and for general working capital purposes. All securities issued pursuant to the Private Placement are subject to a statutory hold period in accordance with the applicable Canadian securities laws, expiring on August 9, 2024.

Canaccord Genuity Corp. and 3L Capital Inc. served as financial advisors in connection with the Private Placement.

In connection with the Private Placement, finder's fees were paid to Haywood Securities Inc., Canaccord Genuity Corp., Echelon Wealth Partners Inc., Research Capital Corporation and PI Financial Corp. for a total of $83,960 in cash and 167,720 Common Share purchase warrants (each a "Finder's Warrant"). Each Finder's Warrant entitles the holder to purchase one Common Share at $0.50 for 12 months.

About Omega Pacific Resources Inc.

Omega Pacific is a mineral exploration company focused on the development of mineral projects containing base and precious metals. The Company recently acquired an option to earn a 100% interest in the Williams Property, located in the Toodoggone region of the Golden Horseshoe. The Golden Horseshoe is a prolific and proven area of British Columbia known to host many gold, copper and silver deposits. The Company also holds an option on the Lekcin Property, located 120 km east of Vancouver, BC.

On Behalf of the Board of Directors

Omega Pacific Resources Inc.

Jason Leikam
Chief Executive Officer and Director
Tel: (778) 790-0886
Email: info@omegapacific.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this news release include statements with respect to the planned use of funds, payments pursuant to option agreements, and exploration. Forward-looking statements are subject to various known and unknown risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company, including, but not limited to: changes in general economic conditions or conditions in the financial and capital markets; uncertainties related to the availability and costs of financing needed in the future; business and economic conditions in the mineral exploration industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with the specifications or expectations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action and unanticipated events related to health, safety and environmental matters); risks related to adverse weather conditions and geopolitical risk and social unrest. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Omega Pacific Resources Inc.