By Laura Lutz
Washington, Jan. 30 - Nautilus Minerals Inc. said that Numis Securities Ltd. has agreed to underwrite its previously announced private placement, which is now expected to raise £50,761,421.
The company plans to sell 27,438,606 shares at 185p per share. Epion Holdings Ltd. will subscribe for 5,499,109 of the shares.
The deal was announced on Dec. 22 as a $60 million offering of units. At that time, the deal was expected to be placed through a syndicate of agents led by Salman Partners Inc. and including TD Securities Inc., BMO Capital Markets, GMP Securities LP, Blackmont Capital Inc. and Westwind Partners Inc. The agents had greenshoe for up to $15 million.
Proceeds will be used for exploration and development at the company's Solwara projects in Papua New Guinea. The rest will be used for working capital.
Vancouver, B.C.-based Nautilus explores the ocean floor for gold-copper-zinc-silver seafloor massive sulphide deposits.
| Issuer: | Nautilus Minerals Inc.
|
| Issue: | Shares
|
| Amount: | £50,761,421
|
| Shares: | 27,438,606
|
| Price: | 185p
|
| Warrants: | No
|
| Investor: | Epion Holdings Ltd. (for 5,499,109 shares)
|
| Underwriter: | Numis Securities Ltd.
|
| Pricing date: | Dec. 22
|
| Amended: | Jan. 30
|
| Stock symbol: | TSX Venture: NUS
|
| Stock price: | C$4.79 at close Jan. 30
|
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