By Laura Lutz
Washington, Nov. 29 - Nayarit Gold Inc. intends to conduct a private placement of units for up to C$3.6 million and at least C$2.5 million.
The company plans to sell up to 4 million units of one share and one half-share warrant at C$0.90 per unit. Each whole warrant will be exercisable at C$1.40 for one year.
The deal will be non-brokered.
Proceeds will be used for exploration on the company's mineral properties in Mexico and for working capital.
Nayarit is a Toronto-based resource company.
| Issuer: | Nayarit Gold Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.6 million (maximum); C$2.5 million (minimum)
|
| Units: | 4 million (maximum)
|
| Price: | C$0.90
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.40
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 28
|
| Stock symbol: | TSX Venture: NYG
|
| Stock price: | C$0.94 at close Nov. 28
|
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