Non-brokered deal raises proceeds for exploration and working capital
By Wendy Van Sickle
Columbus, Ohio, July 12 – Nevada Exploration Inc. said on Tuesday that it completed an upsized C$1.75 million non-brokered private placement of units. The deal priced for C$1.5 million on June 23 and was increased to meet demand.
The company sold 5 million units of one common share and one half-share warrant at C$0.35 per unit.
Each whole warrant is exercisable at C$0.60 for 18 months. The strike price reflects a 42.86% premium to the June 22 closing share price of C$0.42.
Proceeds will be used for exploration and general working capital.
Nevada Exploration is a resource exploration company based in Vancouver, B.C.
| Issuer: | Nevada Exploration Inc.
|
| Issue: | Units of one common share and one half-share warrant
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| Amount: | C$1.75 million, increased from C$1.5 million
|
| Units: | 5 million, upsized from 4,285,715
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| Price: | C$0.35
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.60
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| Agent: | Non-brokered
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| Pricing date: | June 23
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| Settlement date: | July 12
|
| Stock symbol: | TSX Venture: NGE
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| Stock price: | C$0.42 at close June 22
|
| Market capitalization: | C$15.89 million
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