Brokered best-efforts deal conducted by Industrial Alliance Securities
By Devika Patel
Knoxville, Tenn., April 11 - NQ Exploration Inc. announced it has arranged a C$2 million private placement of units. The deal will be conducted by Industrial Alliance Securities Inc.
The company will sell 12.5 million units of one common share and one warrant at C$0.12 apiece and 3,125,000 flow-through common shares at C$0.16 each on a best-efforts basis.
Each warrant is exercisable at C$0.16 for two years.
The strike price and price per share are an 18.52% premium to C$0.135, the April 8 closing share price.
Settlement is expected April 26.
Proceeds will be used for exploration and general working capital.
Based in Laval, Quebec, NQ is a mining company.
| Issuer: | NQ Exploration Inc.
|
| Issue: | Units of one common share and one warrant, flow-through common shares
|
| Amount: | C$2 million
|
| Agent: | Industrial Alliance Securities Inc.
|
| Pricing date: | April 11
|
| Settlement date: | April 26
|
| Stock symbol: | TSX Venture: NQE
|
| Stock price: | C$0.135 at close April 8
|
| Market capitalization: | C$6.08 million
|
|
|
| Units
|
| Amount: | C$1.5 million
|
| Units: | 12.5 million
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.16
|
|
|
| Shares
|
| Amount: | C$500,000
|
| Shares: | 3,125,000
|
| Price: | C$0.16
|
| Warrants: | No
|
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