By Laura Lutz
Des Moines, March 3 - Niblack Mining Corp. arranged a private placement of units for up to C$9 million.
PI Financial Corp. will lead a syndicate of agents that also includes Tollcross Securities Inc.
Niblack plans to sell up to 20 million units of one share and one half-share transferable warrant at C$0.45 per unit.
Each whole warrant will be exercisable at C$0.70 for 18 months.
The agents have a greenshoe for up to 2.2 million additional units, exercisable until two days before closings.
Proceeds will be used for exploration and working capital.
Niblack is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Niblack Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$9 million
|
| Units: | 20 million
|
| Greenshoe: | 2.2 million
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.70
|
| Agents: | PI Financial Corp. (lead); Tollcross Securities Inc.
|
| Pricing date: | March 3
|
| Stock symbol: | TSX Venture: NIB
|
| Stock price: | C$0.50 at close Feb. 29
|
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