Omineca Closes $270,000 Financing

Cranbrook, B.C., 23 February, 2015: Omineca Mining and Metals Inc. (TSX-V:OMM) has closed (subject to regulatory approval) a brokered and non-brokered public offering as originally announced on January 28th, 2015. The financing, originally targeted at $250,000, was taken up by arms-length and non-arms- length investors and consisted of 2,710,000 units (5,420,000 shares) for gross proceeds of CDN $271,000. No finder’s fees or commissions were paid.

Units were priced at $.10 CDN. Each unit consists of one $.05 flow-through common share, one $.05 non-flow-through common share, and 1/2 non-flow-through common share purchase warrant, each whole warrant exercisable at $.10 CDN for a 24 month period.

The common share purchase warrants are subject to an accelerated expiry at the option of the Company if the published closing trade price of the common shares on the TSX Venture Exchange is greater than or equal to $.20 for any 10 consecutive trading days, in which event the holder will be given notice that the warrants will expire 30 days following the date of such notice. The common share purchase warrants may be exercised by the holder during the 30 day period between the notice and the expiration of the common share purchase warrants.

Proceeds from the sale of the units will be used for general working capital and to finance exploration of Omineca’s projects in British Columbia. Certain proceeds of the offering will qualify as Canadian exploration expenses as defined in the Income Tax Act to be renounced for the 2015 taxation year.

About Omineca Mining and Metals Ltd.

Omineca Mining and Metals continues to advance the Wingdam/Lightning Creek project in central British Columbia within the prolific Cariboo Goldfields. The project features a deep paleochannel containing undisturbed gold-bearing gravels. Numerous unsuccessful attempts to recover the gold have been made over the past 120 years, but recent technological advances in mining will be utilized to unlock the value of the project.

On behalf of the Board of Directors

“Tim J. Termuende”
President and CEO

For further information on OMM, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@ominecamining.com or visit our website at http://www.ominecamining.com

 

Cautionary Note Regarding Forward-Looking Statements

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 this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.