By Devika Patel
Knoxville, Tenn., June 19 - Nass Valley Gateway Ltd. said it plans to conduct a private placement of units for C$1.2 million.
The company will sell 3 million flow-through units at C$0.22 apiece and 3 million non flow-through units at C$0.18 apiece.
Each flow-through unit consists of one flow-through share and one half-share non flow-through warrant with each whole warrant exercisable at C$0.25 for one year.
Each non flow-through unit consists of one non flow-through share and one half-share non flow-through warrant with each whole warrant exercisable at C$0.20 for one year.
Proceeds will be used toward the next phase of the company's exploration program on its Bay Point Project located in British Columbia and for working capital to fund ongoing operations and acquisitions.
Nass Valley is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Nass Valley Gateway Ltd.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant; units of one non flow-through share and one half-share non flow-through warrant
|
| Amount: | C$1.2 million
|
| Settlement date: | June 19
|
| Stock symbol: | CNQ: NVGL
|
| Stock price: | C$0.20 at close June 18
|
|
|
| Flow-through units
|
| Amount: | C$660,000
|
| Units: | 3 million
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
|
|
| Non flow-through units
|
| Amount: | C$540,000
|
| Units: | 3 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.20
|
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