By Laura Lutz
Des Moines, March 4 - Nevada Exploration Inc. announced that it is in the process of closing a non-brokered private placement of units for up to C$1.5 million. The offering will be at least C$500,000.
The placement will consist of units of one share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.50 for two years.
Final settlement is expected by March 15.
Proceeds will be used for drilling and property acquisitions.
Nevada Exploration is a resource exploration company based in Montreal.
| Issuer: | Nevada Exploration Inc.
|
| Issue: | Units of one share and half-share warrant
|
| Amount: | C$1.5 million maximum; C$500,000 minimum
|
| Units: | 1.5 million maximum; 500,000 minimum
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
| Agent: | Non-brokered
|
| Announcement date: | March 4
|
| Stock symbol: | TSX Venture: NGE
|
| Stock price: | C$0.78 at close March 3
|
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