Non-brokered deal sells 10 million common shares at C$0.20 per share
By Devika Patel
Knoxville, Tenn., June 4 – New Era Minerals Inc. said it raised C$550,000 in the first tranche of a C$2 million non-brokered private placement of stock. The deal priced May 1.
The company is selling 10 million common shares at C$0.20 apiece. The price per share is a 42.86% premium to the April 30 closing share price of C$0.14. New Era sold 2.75 million shares in the initial tranche.
Proceeds will be used for general corporate and working capital, including potential acquisitions.
The Toronto company explores for nickel.
| Issuer: | New Era Minerals Inc.
|
| Issue: | Common shares
|
| Amount: | C$2 million
|
| Shares: | 10 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Pricing date: | May 1
|
| Settlement date: | June 4 (for C$550,000)
|
| Stock symbol: | TSX Venture: NEM
|
| Stock price: | C$0.14 at close April 30
|
| Market capitalization: | C$8.54 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
