By Laura Lutz
Des Moines, Dec. 14 - NXA Inc. announced a C$3 million private placement of flow-through and non flow-through units.
The company plans to sell up to C$2.5 million of flow-through units at C$0.08 apiece and up to C$500,000 of non flow-through units at C$0.06 apiece.
Each flow-through unit consists of one flow-through share and one warrant, and each non flow-through unit consists of one non flow-through warrant and one warrant.
The warrants from both series of units are each exercisable for one non flow-through share at C$0.10 for two years.
Becher McMahon Capital Markets will be the agent.
Settlement is expected by Dec. 31.
Proceeds will be used for exploration and working capital.
NXA is a mineral exploration company based in Toronto.
| Issuer: | NXA Inc.
|
| Issue: | Units of one flow-through share and one non flow-through warrant; units of one non flow-through share and one non flow-through warrant
|
| Amount: | C$3 million
|
| Agent: | Becher McMahon Capital Markets
|
| Pricing date: | Dec. 14
|
| Stock symbol: | TSX Venture: NXI
|
| Stock price: | C$0.075 at close Dec. 14
|
|
|
| Flow-through units
|
| Amount: | C$2.5 million
|
| Price: | C$0.08
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
|
|
| Non flow-through units
|
| Amount: | C$500,000
|
| Price: | C$0.06
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
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