Key points
- Nautilus Minerals closed a private placement under its financing notice dated April 19, 2017.
- The company issued 11,197,488 common shares at 23.9 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. under a subscription agreement dated Aug. 21, 2016, as amended.
- The financing forms part of an up-to-US$20-million package 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 April 19, 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 11,197,488 common shares to the investors at an issue price of 23.9 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.
