By Sheri Kasprzak
New York, April 5 - NioGold Mining Corp. said it has upsized to C$1.8 million its previously announced C$1.5 million non-brokered private placement.
The offering now includes up to 7.2 million units at C$0.25 each.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$0.35 for one year.
The expiry of the warrants may be accelerated if the company's stock trades above C$0.55 for more than 20 consecutive trading days.
The company still plans to raise another C$1 million from a brokered deal with Canaccord Capital Corp.
The brokered deal still includes up to 4 million units under the same terms as the non-brokered offering. Canaccord has a greenshoe for up to 800,000 units. The deal priced on March 24.
Both deals are scheduled to close April 14.
Based in Vancouver, B.C., NioGold is a gold exploration company.
Issuer: | NioGold Mining Corp.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$1.8 million
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Units: | 7.2 million
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Price: | C$0.25
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.35
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Placement agent: | Non-brokered
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Pricing date: | March 23
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Upsized: | April 5
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Settlement date: | April 14
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Stock symbol: | TSX Venture: NOX
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Stock price: | C$0.30 at close March 23
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Stock price: | C$0.39 at close April 4
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