By Devika Patel
Knoxville, Tenn., Dec. 7 - Nevado Venture Capital Corp. said it plans a non-brokered private placement of units for up to C$1.5 million.
The company will sell "A" units at C$400.00 apiece. Each A unit consists of 800 flow-through common shares, 200 non-flow-through common shares and 500 warrants. Each A warrant will be exercisable at C$0.60 for one year.
The company also will sell "B" units at C$250.00 apiece. The B units consist of 1,000 non-flow-through common shares and 1,000 warrants. Each B warrant will be exercisable at C$0.40 for one year.
Each investor must buy a minimum of C$4,000 in units, or a minimum of 10 A units A or 16 B units.
Proceeds will be used for exploration and to increase working capital.
Nevado Venture is a Calgary, Alta., capital pool company.
| Issuer: | Nevado Venture Capital Corp.
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| Issue: | A units of 800 flow-through common shares, 200 non-flow-through common shares and 500 warrants, B units of 1,000 non-flow-through common shares and 1,000 warrants
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| Amount: | C$1.5 million (maximum)
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| Warrant expiration: | One year
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| Agent: | Non-brokered
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| Pricing date: | Dec. 7
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| Stock symbol: | TSX Venture: NVD.P
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| Stock price: | C$0.10 at close Dec. 4
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| Market capitalization: | C$550,000
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| A units
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| Price: | C$400.00
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| Warrants: | 500 warrants per unit
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| Warrant strike price: | C$0.60
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| B units
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| Price: | C$250.00
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| Warrants: | 1,000 warrants per unit
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| Warrant strike price: | C$0.40
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