By Devika Patel
Knoxville, Tenn., April 14 - Nevada Copper Corp. said it will raise C$4.05 million in a private placement of units.
The company plans to sell 1.5 million units at C$2.70 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$3.20 for 18 months.
The warrants may expire sooner if the company's common shares trade at C$4.00 or higher for twenty consecutive trading days. In that case, the warrants will expire 30 days after the company notifies holders.
Acumen Capital Finance Partners Ltd. is the underwriter and has a greenshoe of 500,000 units, or C$1.35 million.
Proceeds will be used to further advance the company's Pumpkin Hollow property and for general working capital.
Nevada Copper is a mining company based in Vancouver, B.C.
| Issuer: | Nevada Copper Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4.05 million
|
| Greenshoe: | C$1.35 million (500,000 units)
|
| Units: | 1.5 million
|
| Price: | C$2.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$3.20
|
| Underwriter: | Acumen Capital Finance Partners Ltd.
|
| Pricing date: | April 14
|
| Stock symbol: | Toronto: NCU
|
| Stock price: | C$2.74 at close on April 11
|
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