By Sheri Kasprzak
Atlanta, Jan. 25 - Nuinsco Resources Ltd. has raised an additional C$140,000 in a private placement.
The C$140,000 is part of a previously announced and reduced private placement of C$2 million.
The company had announced its plans in December to raise C$5 million.
The latest portion of the offering included 700,000 units at C$0.20 each. The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.30 each for two years.
McFarlane Gordon Inc. and Pacific International Securities Inc. were the placement agents in the offering.
Based in Toronto, Nuinsco is a nickel exploration and development company. The company plans to use the proceeds from the units for acquisitions and working capital.
| Issuer: | Nuinsco Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$140,000
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| Units: | 700,000
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| Price: | C$0.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.30
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| Placement agents: | McFarlane Gordon Inc. and Pacific International Securities Inc.
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| Announcement date: | Oct. 14
|
| Settlement date: | Jan. 24
|
| Stock price: | C$0.25 at close Oct. 14
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| Stock price: | C$0.20 at close Jan. 24
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