Arrangement sells common stock to Mawarid and Metalloinvest
By Devika Patel
Knoxville, Tenn., Aug. 22 – Nautilus Minerals Inc. said it has negotiated a $20 million equity purchase agreement with Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Ltd. that will close in monthly tranches from Dec. 1 through Nov. 30, 2017.
The shares will be sold in tranches of up to $2 million each at a price that is equal to the volume weighted average trading price of the stock during the 10-day period preceding the put notice.
Proceeds will be used for operations and development of the Solwara 1 Project.
Vancouver, B.C.-based Nautilus explores the ocean floor for gold-copper-zinc-silver seafloor massive sulphide deposits.
| Issuer: | Nautilus Minerals Inc.
|
| Issue: | Equity purchase agreement
|
| Amount: | $20 million
|
| Tenor: | Dec. 1, 2016 through Nov. 30, 2017
|
| Price: | The volume weighted average trading price of the stock during the 10-day period preceding the put notice
|
| Warrants: | No
|
| Investor: | Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Ltd.
|
| Pricing date: | Aug. 22
|
| Stock symbol: | Toronto: NUS
|
| Stock price: | C$0.14 at close Aug. 19
|
| Market capitalization: | C$91.1 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
