Deal funds exploration of properties in and near Chibougamau, Quebec
By Devika Patel
Knoxville, Tenn., March 13 - Nuinsco Resources Ltd. said it completed a C$993,720 non-brokered private placement of units. The deal priced for C$1 million on Feb. 21.
The company sold 7,098,000 units of one flow-through common share and one half-share warrant at C$0.14 per unit. Each full warrant will be exercisable at C$0.20 for 18 months. The strike price is a 90.48% premium to the Feb. 20 closing share price of C$0.105.
Proceeds will be used for exploration of properties in and near Chibougamau, Quebec.
Based in Toronto, Nuinsco is a mineral exploration company focused on nickel, uranium, copper, zinc and gold.
Issuer: | Nuinsco Resources Ltd.
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Issue: | Units of one flow-through common share and one half-share warrant
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Amount: | C$993,720
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Units: | 7,098,000
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Price: | C$0.14
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.20
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Agent: | Non-brokered
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Pricing date: | Feb. 21
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Settlement date: | March 13
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Stock symbol: | Toronto: NWI
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Stock price: | C$0.105 at close Feb. 20
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Market capitalization: | C$24.09 million
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