Key points
- The private placement was made under a subscription agreement with Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Ltd. dated Aug. 21, 2016, as amended.
- Nautilus issued 12,507,042 common shares at an issue price of 21.3 Canadian cents per share for aggregate proceeds of $2-million (U.S.).
- The private placement was allocated equally between the two investors.
- It forms part of an up-to $20-million (U.S.) financing approved by shareholders at the company’s extraordinary general meeting on Oct. 26, 2016.
NAUTILUS COMPLETES US$2 MILLION PRIVATE PLACEMENT
Nautilus Minerals Inc. has closed its previously announced private placement pursuant to its financing notice dated March 22, 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 12,507,042 common shares to the investors at an issue price of 21.3 Canadian 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 seafloor 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.
Nautilus also holds highly prospective exploration acreage in the Western Pacific (granted and under application), as well as in international waters in the Central Pacific.
