By Laura Lutz
Washington, Feb. 5 - Nautilus Minerals Inc. announced final terms for a private placement of units for C$88.5 million, including a fully exercised over-allotment option for C$17.7 million.
The company plans to sell 20,344,850 units of one share and one half-share warrant at C$4.35 per unit. Each whole warrant will be exercisable at C$5.655 for two years.
The greenshoe accounts for 20% of the total deal size.
Expiry of the warrants may be accelerated to 30 days if the volume weighted average price of the company's shares exceeds C$6.525 for 20 consecutive trading days.
The deal will be placed through by a syndicate of agents led by Salman Partners Inc. and including BMO Capital Markets, GMP Securities LP, TD Securities Inc., Blackmont Capital Inc. and Westwind Partners Inc.
Proceeds will be used for exploration and development at the company's Solwara projects in Papua New Guinea and other areas in the western Pacific Ocean region as well as for working capital.
Settlement is expected on Feb. 20. The deal was originally announced on Dec. 22.
On Friday, the company completed another private placement of shares for £50,761,421.
Vancouver, B.C.-based Nautilus explores the ocean floor for gold-copper-zinc-silver seafloor massive sulphide deposits.
| Issuer: | Nautilus Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$88.5 million (Including C$17.7 million from over-allotment option)
|
| Units: | 20,344,850
|
| Price: | C$4.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$5.655
|
| Agents: | Salman Partners Inc. (lead), BMO Capital Markets, GMP Securities LP, TD Securities Inc., Blackmont Capital Inc., Westwind Partners Inc.
|
| Announcement date: | Dec. 22
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 20
|
| Stock symbol: | TSX Venture: NUS
|
| Stock price: | C$4.65 at close Feb. 2
|
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