Mawarid will buy 20 million shares in two tranches at C$0.90 per share
By Devika Patel
Knoxville, Tenn., Aug. 1 - Nautilus Minerals Inc. plans a C$33.93 million private placement of stock, according to a press release from investor Mawarid Offshore Mining Ltd.
The company will sell 37.7 million common shares at C$0.90 per share. Of the shares, 20 million will be bought by Mawarid in two tranches for C$18 million.
The price per share is a discount to the July 31 closing share price of C$1.10.
Vancouver, B.C.-based Nautilus explores the ocean floor for gold-copper-zinc-silver seafloor massive sulphide deposits.
| Issuer: | Nautilus Minerals Inc.
|
| Issue: | Common shares
|
| Amount: | C$33.93 million
|
| Shares: | 37.7 million
|
| Price: | C$0.90
|
| Warrants: | No
|
| Investor: | Mawarid Offshore Mining Ltd. (for C$18 million)
|
| Pricing date: | Aug. 1
|
| Stock symbol: | Toronto: NUS
|
| Stock price: | C$1.10 at close July 31
|
| Market capitalization: | C$202.34 million
|
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