By Sheri Kasprzak
New York, Jan. 30 - Niblack Mining Corp. said it intends to raise up to C$4,001,250 in a private placement.
The offering includes up to 7,275,000 units at C$0.55 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.80 each for 18 months.
A syndicate of placement agents led by Pacific International Securities Inc. and including Salman Partners Inc. has an over-allotment option for up to 1.82 million units.
Proceeds will be used for exploration on the Niblack property and 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.
|
| Amount: | C$4,001,250
|
| Units: | 7,275,000
|
| Greenshoe: | For up to 1.82 million units
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.80
|
| Placement agents: | Pacific International Securities Inc. (lead), Salman Partners Inc
|
| Pricing date: | Jan. 30
|
| Stock symbol: | TSX Venture: NIB
|
| Stock price: | C$0.65 at close Jan. 30
|
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