Non-brokered financing raises funds for exploration, working capital
By Devika Patel
Knoxville, Tenn., Aug. 13 – Nouveau Monde Mining Enterprises Inc. said it raised C$1.07 million in the second tranche of a C$1.42 million non-brokered private placement of units and shares. The deal raised C$350,300 on July 20.
The company is selling flow-through shares at C$0.20 per share and units at C$0.15 apiece.
Each unit consists of one common share and one half-share warrant, with each warrant exercisable at C$0.20 for three years.
The strike price is a 25% premium to the July 17 closing share price of C$0.16. The price per share is also a 25% premium to that price.
Nouveau Monde sold 375,000 flow-through common shares and 1,835,334 units in the first tranche and sold 2.4 million shares and 3,897,004 units in the second tranche.
Proceeds will be used for exploration and working capital.
The Gatineau, Québec, company mines for base and precious metals and industrial minerals.
| Issuer: | Nouveau Monde Mining Enterprises Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through common shares
|
| Amount: | C$1,414,851
|
| Agent: | Non-brokered
|
| Settlement date: | July 20 (for C$350,300), Aug. 13 (for C$1,064,551)
|
| Stock symbol: | TSX Venture: NOU
|
| Stock price: | C$0.16 at close July 17
|
| Market capitalization: | C$7.06 million
|
|
|
| Units
|
| Amount: | C$859,851
|
| Units: | 5,732,338
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.20
|
|
|
| Shares
|
| Amount: | C$550,000
|
| Shares: | 2,775,000
|
| Price: | C$0.20
|
| Warrants: | No
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
