Brokered offering has 15% greenshoe; funds cover exploration in Quebec
By Devika Patel
Knoxville, Tenn., Oct. 8 - Nemaska Exploration Inc. said it will conduct a C$5 million private placement of units.
The company will sell units at C$0.40 each and flow-through units at C$0.50 each on a reasonable efforts basis.
Each unit consists of one common share and one warrant. Each flow-through unit consists one flow-through common share and one warrant.
Each warrant is exercisable for two years at C$0.55. The strike price reflects a 41.03% premium to the Oct. 7 closing share price of C$0.39.
The deal will be conducted by a syndicate of agents led by Dundee Securities Corp. and including Industrial Alliance Securities Inc. There is a 15% greenshoe.
Proceeds will be used for exploration and development of the company's Quebec properties and general working capital purposes
Nemaska is a mineral exploration company based in Quebec City.
| Issuer: | Nemaska Exploration Inc.
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| Issue: | Units of one common share and one warrant; flow-through units of one flow-through common share and one warrant
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| Amount: | C$5 million
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| Warrants: | One per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.55
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| Agents: | Dundee Securities Corp. (lead) and Industrial Alliance Securities Inc.
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| Pricing date: | Oct. 8
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| Stock symbol: | TSX Venture: NMX
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| Stock price: | C$0.39 at close Oct. 8
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| Market capitalization: | C$16.88 million
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|
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| Units
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| Price: | C$0.40
|
|
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| Flow-through units
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| Price: | C$0.50
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