Greenshoe fully exercised for C$500,000; Primary Capital was agent
By Devika Patel
Knoxville, Tenn., March 7 - Nevada Sunrise Gold Corp. said it completed a C$2 million private placement of units through Primary Capital Inc. The offering priced for C$1.5 million with a C$500,000 greenshoe on Feb. 13.
The company sold 16.7 million units of one common share and one half-share warrant at C$0.12 per unit.
Each whole warrant will be exercisable at C$0.20 for two years. The strike price represents a 33.33% premium to the closing share price on Feb. 10, C$0.15.
Proceeds will be used to fund exploration of the company's North American precious metals properties and for general working capital.
Nevada Sunrise is a gold exploration company based in Vancouver, B.C.
| Issuer: | Nevada Sunrise Gold Corp.
|
| Issue: | Units of one common share and half a warrant
|
| Total amount: | C$2,004,000 (including C$500,000 greenshoe)
|
| Total units: | 16.7 million
|
| Price: | C$0.12
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Primary Capital Inc.
|
| Pricing date: | Feb. 13
|
| Upsized: | Feb. 15
|
| Settlement date: | March 7
|
| Stock symbol: | TSX Venture: NEV
|
| Stock price: | C$0.15 at close Feb. 10
|
| Market capitalization: | C$13.28 million
|
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