By Sheri Kasprzak
New York, Jan. 12 - Nayarit Gold Inc. priced a private placement for up to C$2.1 million and at least C$750,000.
The non-brokered offering includes up to 3 million units and at least 1,071,428 units at C$0.70 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$1.00 each for one year.
Proceeds will be used for exploration on the company's properties in Mexico. The rest will be used for working capital. The company may also use some proceeds for acquisitions of properties complementary to its business.
Toronto-based Nayarit is a gold exploration company.
| Issuer: | Nayarit Gold Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.1 million (maximum); C$750,000 (minimum)
|
| Units: | 3 million (maximum); 1,071,428 (minimum)
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.00
|
| Placement agent: | Non-brokered
|
| Pricing date: | Jan. 12
|
| Stock symbol: | TSX Venture: NYG
|
| Stock price: | C$0.73 at close Jan. 12
|
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