By Devika Patel
Knoxville, Tenn., Sept. 27- Nautilus Minerals Inc. announced it plans to raise C$39,094,884 in a private placement of units.
The company will sell 10,859,690 units at C$3.60 each to Epion Holdings Ltd. Each unit will consist of one common share and one-fifth of a warrant. Each whole warrant is exercisable at C$3.80 for two years.
The securities will have a four-month hold period.
Nautilus will pay a finder's fee of C$3,909,488 in cash and 1,085,969 warrants to M&A Advisors Ltd. The finder's warrants will have the same terms as those offered in the deal.
Proceeds will be used for future exploration programs, development of survey, geophysical and sampling equipment and 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: | Units of one common share and one-fifth of a warrant
|
| Amount: | C$39,094,884
|
| Units: | 10,859,690
|
| Price: | C$3.60
|
| Warrants: | One fifth of a warrant per unit
|
| Warrant strike price: | C$3.80
|
| Warrant expiration: | Two years
|
| Investor: | Epion Holdings Ltd.
|
| Fees: | C$3,909,488 in cash and 1,085,969 warrants
|
| Pricing date: | Sept. 27
|
| Stock symbol: | Toronto: NUS
|
| Stock price: | C$3.32 at close Sept. 26
|
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