Warrant exercise price is 66.67% premium to Aug. 6 share price
By Angela McDaniels
Tacoma, Wash., Aug. 23 - Nitinat Minerals Corp. completed a C$300,000 non-brokered private placement of units that priced Aug. 7.
The company sold 1.5 million units for C$0.20 each. Each unit is comprised of one common share and one half of a common share purchase warrant, according to a company news release.
Each whole warrant is exercisable for one common share at an exercise price of C$0.25 until Aug. 13, 2015. The exercise price is a 66.67% premium to the company's C$0.15 closing share price on Aug. 6.
The company had planned to sell up to 1.75 million units for up to C$350,000.
Nitinat is a mining company based in Toronto.
Issuer: | Nitinat Minerals Corp.
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Issue: | Units of one common share and half a warrant
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Amount: | C$300,000
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Units: | 1.5 million
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Price: | C$0.20
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Warrants: | Half a warrant per unit
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Warrant expiration: | Aug. 13, 2015
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Warrant strike price: | C$0.25
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Agent: | Non-brokered
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Pricing date: | Aug. 7
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Settlement date: | Aug. 23
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Stock symbol: | TSX Venture: NZZ
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Stock price: | C$0.14 at close Aug. 22
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Market capitalization: | C$5.76 million
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