Final tranche raises C$1.58 million for exploration, working capital
New York, Aug. 28 – Nouveau Monde Mining Enterprises Inc. completed the third and final tranche of its private placement of units and shares, bringing the total size to C$3 million, according to a news release.
The latest portion totaled C$1.58 million. The company previously raised C$1.07 million in the second tranche on Aug. 13 and C$350,300 on July 20.
In the third tranche, Nouveau Monde sold 7,750,167 units at C$0.15 each for a total of C$1.16 million and 2.09 million flow-through shares at C$0.20 for a total of C$418,000.
Each unit consists of one common share and one half-share warrant, with each warrant exercisable at C$0.20 for three years.
The strike price is a 25% premium to the July 17 closing share price of C$0.16. The price per share is also a 25% premium to that price.
Nouveau Monde sold 375,000 flow-through common shares and 1,835,334 units in the first tranche and sold 2.4 million shares and 3,897,004 units in the second tranche.
Proceeds will be used for exploration and working capital.
The Gatineau, Qebec, company mines for base and precious metals and industrial minerals.
| Issuer: | Nouveau Monde Mining Enterprises Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through common shares
|
| Amount: | C$2,995,375.75
|
| Agent: | Non-brokered
|
| Settlement date: | July 20 (for C$350,300), Aug. 13 (for C$1,064,551), Aug. 28 (for C$1,580,525)
|
| Stock symbol: | TSX Venture: NOU
|
| Stock price: | C$0.16 at close July 17
|
| Market capitalization: | C$7.1 million
|
|
|
| Units
|
| Amount: | C$2,022,375.75
|
| Units: | 13,482,505
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.20
|
|
|
| Flow-through shares
|
| Amount: | C$973,000
|
| Shares: | 4,865,000
|
| Price: | C$0.20
|
| Warrants: | No
|
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