Company sells 10 million flow-through units in non-brokered offering
By Devika Patel
Knoxville, Tenn., Aug. 30 - Nuinsco Resources Ltd. said it settled a C$1.5 million non-brokered private placement of units with a C$391,295 tranche. It raised C$1.11 million on Aug. 3.
The company sold a total of 10 million units of one flow-through common share and one half-share warrant at C$0.15 per unit. It sold 7,391,365 units in the first tranche and 2,608,635 units in the second. Insiders purchased 419,999 units.
Each whole two-year warrant will be exercisable at C$0.20. The strike price reflects a 42.86% premium to the Aug. 2 closing share price of C$0.14.
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 flow-through common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Settlement date: | Aug. 3 (for C$1,108,705), Aug. 30 (for C$391,295)
|
| Stock symbol: | Toronto: NWI
|
| Stock price: | C$0.14 at close Aug. 3
|
| Market capitalization: | C$30.40 million
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