Key points
- Nautilus issued 16,221,118 common shares at 16.1 cents per share for aggregate proceeds of US$2-million.
- The placement was split equally between Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Ltd.
- It closed under a financing notice dated Feb. 17, 2017, delivered under the subscription agreement dated Aug. 21, 2016, as amended.
- The placement forms part of up to US$20-million in financing approved by shareholders at the Oct. 26, 2016 extraordinary general meeting.
NAUTILUS COMPLETES US$2 MILLION PRIVATE PLACEMENT
Nautilus Minerals Inc. has closed its previously announced private placement pursuant to its financing notice, dated Feb. 17, 2017, delivered under the company’s subscription agreement with Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Ltd., dated Aug. 21, 2016, as amended.
At the closing, the company issued an aggregate of 16,221,118 common shares to the investors at an issue price of 16.1 cents per share for aggregate proceeds to the company of $2-million (U.S.). The private placement was allocated equally between the two investors.
The private placement forms part of the up to $20-million (U.S.) financing approved by the company’s shareholders at the extraordinary general meeting of the company held on Oct. 26, 2016.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic sea-floor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1 in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.
