Offering conducted with Forbes & Manhattan to finance operating costs
By Devika Patel
Knoxville, Tenn., May 20 - Niocan Inc. said it will take in C$5.93 million in a private placement of shares with Forbes & Manhattan, Inc. The parties negotiated a letter of intent for the deal on May 4.
The company will sell 5,157,000 common shares at C$1.15 per share. The price represents a 15% premium to C$1.00, the closing share price on May 3.
Proceeds will be used to pay the company's operating costs and for development of its assets.
The gold exploration and development company is based in Toronto.
Issuer: | Niocan Inc.
|
Issue: | Common shares
|
Amount: | C$5,930,550
|
Shares: | 5,157,000
|
Price: | C$1.15
|
Warrants: | No
|
Investor: | Forbes & Manhattan, Inc.
|
Pricing date: | May 4
|
Stock symbol: | Toronto: NIO
|
Stock price: | C$1.15 at close May 4
|
Market capitalization: | C$20.76 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.