Warrant exercise price is 66.67% premium to Aug. 6 share price
By Angela McDaniels
Tacoma, Wash., Aug. 23 - Nitinat Minerals Corp. completed a C$300,000 non-brokered private placement of units that priced Aug. 7.
The company sold 1.5 million units for C$0.20 each. Each unit is comprised of one common share and one half of a common share purchase warrant, according to a company news release.
Each whole warrant is exercisable for one common share at an exercise price of C$0.25 until Aug. 13, 2015. The exercise price is a 66.67% premium to the company's C$0.15 closing share price on Aug. 6.
The company had planned to sell up to 1.75 million units for up to C$350,000.
Nitinat is a mining company based in Toronto.
| Issuer: | Nitinat Minerals Corp.
|
| Issue: | Units of one common share and half a warrant
|
| Amount: | C$300,000
|
| Units: | 1.5 million
|
| Price: | C$0.20
|
| Warrants: | Half a warrant per unit
|
| Warrant expiration: | Aug. 13, 2015
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 23
|
| Stock symbol: | TSX Venture: NZZ
|
| Stock price: | C$0.14 at close Aug. 22
|
| Market capitalization: | C$5.76 million
|
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