By Sheri Kasprzak
New York, Dec. 7 - Nuinsco Resources Ltd. said it has settled its previously announced private placement for C$1,503,335.
The company issued 5.36 million flow-through units at C$0.20 each and 2,875,568 non flow-through units at C$0.15 each.
The flow-through units include one flow-through share and one half-share warrant. The whole warrants are exercisable at C$0.25 each for two years. The non flow-through units include one non flow-through share and one warrant. The warrants are exercisable for two years at C$0.25 each.
MPartners Inc. was the placement agent.
The offering was first announced Oct. 31 as a C$2.5 million offering of up to 6,818,182 flow-through units at C$0.22 each and the rest in non flow-through units at C$0.18 each. The offering was reduced to C$2,132,000 - or up to 6.5 million flow-through units and 5,546,667 non flow-through units - under the present terms on Nov. 28.
Proceeds from the flow-through units will be used for exploration on the company's Diabase uranium project in Saskatchewan and the Minago nickel deposit in Manitoba. The proceeds from the non flow-through units will be used for acquisitions, working capital and exploration on the company's Berta project in Turkey.
Toronto-based Nuinsco is a uranium exploration company.
| Issuer: | Nuinsco Resources Ltd.
|
| Issue: | Flow-through and non flow-through units
|
| Amount: | C$1,503,335
|
| Placement agent: | MPartners Inc.
|
| Pricing date: | Oct. 31
|
| Settlement date: | Dec. 7
|
| Stock price: | C$0.18 at close Oct. 31
|
| Stock price: | C$0.175 at close Dec. 6
|
|
|
| Flow-through units
|
| Units: | 5.36 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
|
|
| Non flow-through units
|
| Units: | 2,875,568
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
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