By Laura Lutz
Des Moines, Dec. 14 - NXA Inc. announced a C$3 million private placement of flow-through and non flow-through units.
The company plans to sell up to C$2.5 million of flow-through units at C$0.08 apiece and up to C$500,000 of non flow-through units at C$0.06 apiece.
Each flow-through unit consists of one flow-through share and one warrant, and each non flow-through unit consists of one non flow-through warrant and one warrant.
The warrants from both series of units are each exercisable for one non flow-through share at C$0.10 for two years.
Becher McMahon Capital Markets will be the agent.
Settlement is expected by Dec. 31.
Proceeds will be used for exploration and working capital.
NXA is a mineral exploration company based in Toronto.
Issuer: | NXA Inc.
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Issue: | Units of one flow-through share and one non flow-through warrant; units of one non flow-through share and one non flow-through warrant
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Amount: | C$3 million
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Agent: | Becher McMahon Capital Markets
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Pricing date: | Dec. 14
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Stock symbol: | TSX Venture: NXI
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Stock price: | C$0.075 at close Dec. 14
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Flow-through units
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Amount: | C$2.5 million
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Price: | C$0.08
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Warrants: | One per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.10
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Non flow-through units
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Amount: | C$500,000
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Price: | C$0.06
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Warrants: | One per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.10
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