By Sheri Kasprzak
New York, April 21 - NioGold Mining Corp. said the greenshoe associated with its previously announced private placement was exercised, lifting total proceeds of the unit sale to C$3 million.
The company issued a total of 5.6 million units at C$0.25 each for proceeds of C$1.4 million, including the over-allotment option for 800,000 units exercised by Canaccord Capital Corp.
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 also closed a non-brokered deal for C$1.6 million, selling 6.4 million units at C$0.25 each.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable for one year at C$0.35.
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.
Based in Vancouver, B.C., NioGold is a gold exploration company.
Non-brokered offering
| Issuer: | NioGold Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.6 million
|
| Units: | 6.4 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Placement agent: | Non-brokered
|
| Pricing date: | March 23
|
| Settlement date: | April 21
|
| Stock symbol: | TSX Venture: NOX
|
| Stock price: | C$0.30 at close March 23
|
| Stock price: | C$0.38 at close April 20
|
|
|
| Brokered offering
|
| Issuer: | NioGold Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.4 million
|
| Units: | 5.6 million (includes greenshoe for 800,000 units)
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Placement agent: | Canccord Capital Corp.
|
| Pricing date: | March 23
|
| Settlement date: | April 21
|
| Stock symbol: | TSX Venture: NOX
|
| Stock price: | C$0.30 at close March 23
|
| Stock price: | C$0.38 at close April 20
|
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