By Sheri Kasprzak
New York, Feb. 7 - NuStar Mining Corp. Ltd. said it has received an agreement from a London-based institutional investor for a A$6.93 million private placement.
The investor agreed to buy 99 million shares at A$0.07 each.
For every two shares purchased, the investor will receive one option, exercisable for another share at A$0.0875 each for 20 months.
Proceeds will be used for expansion drilling on the company's Paulsens project.
Based in West Perth, Western Australia, NuStar is a mineral exploration company.
| Issuer: | NuStar Mining Corp. Ltd.
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| Issue: | Stock
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| Amount: | A$6.93 million
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| Shares: | 99 million
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| Price: | A$0.07
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| Options: | One option for every two shares purchased
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| Option expiration: | 20 months
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| Option price: | A$0.0875
|
| Announcement date: | Feb. 7
|
| Stock symbol: | Australia: NMC
|
| Stock price: | A$0.075 at close Feb. 7
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