By Sheri Kasprzak
New York, Nov. 4 - Niblack Mining Corp. has completed the brokered portion and the first tranche of the non-brokered portion of its previously announced C$2.1 million private placement, raising C$1,686,545.
The company issued a total of 4,818,700 units at C$0.35 each.
Pacific International Securities Inc. was placement agent for 3,489,700 of the units, and the rest were sold on a non-brokered basis.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.50 each through Nov. 1, 2007.
The offering was first announced Sept. 9 as including 3.5 million units in the brokered portion and up to 2.5 million in the non-brokered portion.
The second tranche of the non-brokered offering is expected to close within 30 days.
Proceeds will be used for exploration on the company's Niblack project in Alaska. The rest will be used for working capital.
Based in Vancouver, B.C., Niblack is a mineral exploration company.
| Issuer: | Niblack Mining Corp.
|
| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1,686,545
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| Units: | 4,818,700
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| Price: | C$0.35
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| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Nov. 1, 2007
|
| Warrant strike price: | C$0.50
|
| Placement agent: | Pacific International Securities Inc. (for 3,489,700 units)
|
| Settlement date: | Nov. 4
|
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