By Devika Patel
Knoxville, Tenn., Oct. 20 - Nevsun Resources Ltd. said it will raise C$32.78 million in a non-brokered private placement of stock.
The company will sell 11.5 million common shares at C$2.85 per share.
Settlement is expected Oct. 30.
Proceeds will be used for general working capital, including exploration and development of the Bisha Project.
Based in Vancouver, B.C., Nevsun is a gold, copper and zinc exploration company.
| Issuer: | Nevsun Resources Ltd.
|
| Issue: | Common stock
|
| Amount: | C$32,775,000
|
| Shares: | 11.5 million
|
| Price: | C$2.85
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 30
|
| Stock symbol: | Toronto: NSU
|
| Stock price: | C$3.08 at close Oct. 19
|
| Market capitalization: | C$381 million
|
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