Deal funds exploration of properties in and near Chibougamau, Quebec
By Devika Patel
Knoxville, Tenn., March 13 - Nuinsco Resources Ltd. said it completed a C$993,720 non-brokered private placement of units. The deal priced for C$1 million on Feb. 21.
The company sold 7,098,000 units of one flow-through common share and one half-share warrant at C$0.14 per unit. Each full warrant will be exercisable at C$0.20 for 18 months. The strike price is a 90.48% premium to the Feb. 20 closing share price of C$0.105.
Proceeds will be used for exploration of properties in and near Chibougamau, Quebec.
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$993,720
|
| Units: | 7,098,000
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 21
|
| Settlement date: | March 13
|
| Stock symbol: | Toronto: NWI
|
| Stock price: | C$0.105 at close Feb. 20
|
| Market capitalization: | C$24.09 million
|
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