By Sheri Kasprzak
New York, May 10 - Nevsun Resources Ltd. has entered into agreements to close a C$10 million non-brokered private placement.
A single investor has agreed to buy 2.5 million shares at C$4.00 each.
The deal is scheduled to close May 12.
Proceeds will be used for working capital.
Located in Vancouver, B.C., Nevsun is a gold and copper exploration company.
| Issuer: | Nevsun Resources Ltd.
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| Issue: | Stock
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| Amount: | C$10 million
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| Shares: | 2.5 million
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| Price: | C$4.00
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| Warrants: | No
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| Placement agent: | Non-brokered
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| Announcement date: | May 10
|
| Stock symbol: | Toronto: NSU
|
| Stock price: | C$4.57 at close May 9
|
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