Deal conducted by Industrial Alliance and Casimir to fund exploration
By Devika Patel
Knoxville, Tenn., June 21 - Nemaska Exploration Inc. said it completed a C$1.37 million initial tranche of a C$2 million private placement of units. It expects to raise C$635,000 in a second tranche.
The company sold 2.73 million flow-through units of one flow-through common share and one half-share warrant at C$0.50 per unit. It will sell another 1.27 million units in the second tranche.
Each whole warrant is exercisable at C$0.65 for 18 months. The strike price reflects a 66.67% premium to the June 20 closing share price of C$0.39.
The deal is being conducted by a syndicate of agents co-led by Industrial Alliance Securities Inc. and Casimir Capital Ltd.
Proceeds will be used for exploration.
Nemaska is a mineral exploration company based in Quebec City.
| Issuer: | Nemaska Exploration Inc.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 4 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.65
|
| Agents: | Industrial Alliance Securities Inc. and Casimir Capital Ltd. (co-leads)
|
| Settlement date: | June 21 (for C$1,365,000)
|
| Stock symbol: | TSX Venture: NMX
|
| Stock price: | C$0.39 at close June 20
|
| Market capitalization: | C$36.96 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.
