By Sheri Kasprzak
Atlanta, April 5 - Nuinsco Resources Ltd. said it has completed a downsized private placement for C$1,512,479.
The company sold flow-through units at C$0.26 each and common-share units at C$0.22 each.
The flow-through units included one flow-through share and one flow-through share warrant. The warrants allow for an additional share at C$0.40 each for nine months.
The common-share units included one common share and one common-share warrant. The warrants allow for an additional share at C$0.40 each for two years.
The offering was announced March 11 as a C$2 million deal comprised of up to 5,769,230 flow-through units with the remainder in common-share units.
The company expects to raise more from the offering in the coming weeks.
McFarlane Gordon Inc. was the placement agent.
Based in Toronto, Nuinsco is a nickel exploration company. It plans to use the proceeds from the flow-through shares for exploration on its Diabase uranium project in Saskatchewan and its Minago nickel deposit in Manitoba. The proceeds from the common-share units will be used for acquisitions, working capital and exploration on the Berta project in Turkey.
| Issuer: | Nuinsco Resources Ltd.
|
| Issue: | Flow-through units and common-share units
|
| Amount: | C$1,512,479
|
| Greenshoe: | Up to C$500,000
|
| Placement agent: | McFarlane Gordon Inc.
|
| Pricing date: | March 11
|
| Settlement date: | April 5
|
| Stock price: | C$0.265 at close March 10
|
| Stock price: | C$0.22 at close April 5
|
|
|
| Flow-through units
|
| Issue: | Flow-through units of one flow-through share and one flow-through warrant
|
| Price: | C$0.26
|
| Warrants: | One flow-through warrant per unit
|
| Warrant expiration: | Nine months
|
| Warrant strike price: | C$0.40
|
|
|
| Common-share units
|
| Issue: | Common share units of one share and one warrant
|
| Price: | C$0.22
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
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