Key points
- The offering is being conducted through a syndicate of underwriters led by TD Securities Inc. and Credit Suisse Securities (Canada) Inc.
- Underwriters will receive a 30-day overallotment option to purchase additional common shares equal to 15 per cent of the shares sold in the offering.
- Net proceeds will finance development of the Solwara 1 project and the company’s equity contribution to the production support vessel joint venture agreement.
- Common shares will be offered in all Canadian provinces except Quebec by short form prospectus and in other jurisdictions via private placement exemptions.
Nautilus Minerals Inc. has launched a marketed public offering of common shares of the company.
The offering will be conducted through a syndicate of underwriters led by TD Securities Inc. and Credit Suisse Securities (Canada) Inc.
The offering is expected to raise gross proceeds of approximately $150-million. The company also will grant the underwriters an overallotment option to purchase up to that number of additional common shares equal to 15 per cent of the common shares sold pursuant to the offering. The option will be exercisable for a period of 30 days following closing.
The company intends to use the net proceeds from the offering to finance the development of the Solwara 1 project, to finance the company’s equity contribution associated with the production support vessel joint venture agreement and for general corporate purposes.
Final pricing of the offering will be determined in the context of the market prior to the filing of the final short form prospectus. The common shares will be offered in all provinces of Canada except Quebec by way of a short form prospectus and other jurisdictions outside of Canada pursuant to applicable private placement exemptions.
