By Devika Patel
Knoxville, Tenn., Jan. 2 - Nayarit Gold Inc. announced it will raise up to C$2.2 million in a non-brokered private placement of units.
The company will sell up to 5.5 million units at C$0.40 apiece. Each unit consists of one common share and a warrant. The two-year warrants are exercisable at C$0.60 for the first year and at C$0.70 thereafter.
Proceeds will be used for exploration and general working capital.
Toronto-based Nayarit is a gold exploration company.
Issuer: | Nayarit Gold Inc.
|
Issue: | Units of one common share and a warrant
|
Amount: | C$2.2 million
|
Units: | 5.5 million
|
Price: | C$0.40
|
Warrants: | One warrant per unit
|
Warrant expiration: | Two years
|
Warrant strike price: | C$0.60 for the first year, C$0.70 thereafter
|
Agent: | Non-brokered
|
Pricing date: | Jan. 2
|
Stock symbol: | TSX Venture: NYG
|
Stock price: | C$0.44 at close Dec. 31
|
© 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.