Jacob Securities sells units to fund exploration of Jasper Property
By Devika Patel
Knoxville, Tenn., May 28 - Nitinat Minerals Corp. said it plans a C$2 million private placement of units. The deal will be conducted by Jacob Securities Inc.
The company will sell 10 million units of one common share and one half-share warrant at C$0.20 per unit.
Each whole, two-year warrant will be exercisable at C$0.25, which is a 47.06% premium to the May 27 closing share price of C$0.17.
Proceeds will be used for exploration of the Jasper Property, increased investment in Technoton LLC and general working capital.
Based in Toronto, Nitinat minerals is a mining exploration company that targets polymetallic, massive sulphide deposits.
Issuer: | Nitinat Minerals Corp.
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Issue: | Units of one common share and a half-share warrant
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Amount: | C$2 million
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Units: | 10 million
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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$0.25
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Agent: | Jacob Securities Inc.
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Pricing date: | May 28
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Stock symbol: | TSX Venture: NZZ
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Stock price: | C$0.17 at close May 27
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Market capitalization: | C$6.74 million
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