By Laura Lutz
Des Moines, March 15 - Niblack Mining Corp. settled an upsized private placement of units for C$15,397,750.
The company raised C$12,847,750 from the brokered portion of the offering, including C$1,797,750 from a greenshoe, and C$2.55 million from the non-brokered offering.
The brokered placement included 15.115 million units at C$0.85 each, and the non-brokered placement included 3 million units at the same price.
Each unit consists of one share and one half-share transferable warrant. Each whole warrant will be exercisable at C$1.25 for 18 months.
The deal priced on Feb. 5 as an C$9.69 million consisting of an C$8.5 million brokered placement and a C$1.19 million non-brokered placement. The non-brokered portion was upsized to C$2.55 million on Feb. 16.
The agents, a syndicate led by Pacific International Securities Inc. and including Haywood Securities Inc. and Salman Partners Inc., had a greenshoe for up to C$4.25 million of units.
Proceeds will be used for exploration and working capital.
Niblack is a Vancouver, B.C.-based mineral exploration and development company.
| Issuer: | Niblack Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$15,397,750
|
| Units: | 18.115 million (includes greenshoe for 2.115 million)
|
| Price: | C$0.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25
|
| Agents: | Pacific International Securities Inc. (lead), Haywood Securities Inc., Salman Partners Inc.
|
| Pricing date: | Feb. 5
|
| Upsized: | Feb. 16
|
| Settlement date: | March 15
|
| Stock symbol: | TSX Venture: NIB
|
| Stock price: | C$0.90 at close Feb. 5
|
| Stock price: | C$0.85 at close Feb. 16
|
| Stock price: | C$0.86 at close March 15
|
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