By Devika Patel
Knoxville, Tenn., Dec. 24 - Nuinsco Resources Ltd. said it raised C$1 million in the second tranche of a C$2 million non-brokered private placement of units. The company took in C$520,110 on Dec. 21.
The company is selling 22,222,222 units of one common share and one half-share warrant at C$0.09 per unit. It sold 5,779,000 units in the first tranche. In the second tranche, the company sold 11,111,109 units.
Each whole two-year warrant will be exercisable for flow-through common shares at C$0.15 per share.
Proceeds will be used for exploration.
Based in Toronto, Nuinsco is a mineral exploration company focused on nickel, uranium, copper, zinc and gold.
| Issuer: | Nuinsco Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 22,222,222
|
| Price: | C$0.09
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 21 (for C$520,110), Dec. 24 (for C$1 million)
|
| Stock symbol: | Toronto: NWI
|
| Stock price: | C$0.07 at close Dec. 21
|
| Market capitalization: | C$15 million
|
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