Key points
- Nautilus Minerals is updating investors on the financing requirements outlined in its Dec. 4, 2017 press release.
- Discussions with various parties, including major shareholders, are ongoing and have taken longer than expected.
- The company states there is no assurance the necessary financing will be secured within the required time or at all.
- If financing is not secured, Nautilus may pursue steps such as asset sales, joint ventures and capital restructurings to maximize shareholder value.
NAUTILUS PROVIDES UPDATE
Nautilus Minerals Inc. is providing an update to its financing requirements set forth in the company’s Dec. 4, 2017, press release.
Discussions with various parties including the major shareholders continue. These discussions have taken longer than expected but the company remains positive that the discussions will be concluded soon.
There can be no assurances that the company will be successful in securing the necessary additional financing transactions within the required time or at all. Failure to secure the necessary financing may result in the company engaging specialist advisers and taking various steps aimed at maximizing shareholder value such as undertaking various transactions including, without limitation, asset sales, joint ventures and capital restructurings.
The company will provide further updates as circumstances warrant.
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.
