By Devika Patel
Knoxville, Tenn., Oct. 18 - Nevsun Resources Ltd. announced it plans a non-brokered private placement of shares to raise up to C$15 million.
The company will sell 10,000,000 common shares at C$1.50 apiece.
Closing is expected on Oct. 26.
Proceeds will be used for working capital and to fund the early stages of construction of the company's Bisha project.
Based in Vancouver, B.C., Nevsun is a gold, copper and zinc exploration company. The company's portfolio is focused on properties in Africa with gold and base metal (copper and zinc) resources and reserves.
| Issuer: | Nevsun Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$15 million
|
| Shares: | 10,000,000
|
| Price: | C$1.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 26
|
| Stock symbol: | Toronto: NSU
|
| Stock price: | C$1.61 at close Oct. 18
|
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