Non-brokered deal is expected to fund exploration and working capital
By Devika Patel
Knoxville, Tenn., June 16 – Nouveau Monde Mining Enterprises Inc. said it settled a C$2.3 million non-brokered private placement of units and stock. The deal priced for C$1.5 million on June 2.
The company sold units of one common share and one half-share warrant at C$0.25 per unit and 3,243,532 flow-through common shares at C$0.30 each.
Each whole warrant is exercisable at C$0.35 for one year.
The strike price represents a 29.63% premium to C$0.27, the June 1 closing share price. The price per share is an 11.11% premium to that price.
Proceeds will be used for exploration and working capital.
The Gatineau, Quebec, company mines for base and precious metals and industrial minerals.
| Issuer: | Nouveau Monde Mining Enterprises Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through common shares
|
| Amount: | C$2,301,060
|
| Agents: | Non-brokered
|
| Pricing date: | June 2
|
| Settlement date: | June 16
|
| Stock symbol: | TSX Venture: NOU
|
| Stock price: | C$0.27 at close June 1
|
| Market capitalization: | C$15.03 million
|
|
|
| Units
|
| Amount: | C$1,328,000
|
| Units: | 5,312,000
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
|
|
| Shares
|
| Amount: | C$973,060
|
| Shares: | 3,243,532
|
| Price: | C$0.30
|
| Warrants: | No
|
|
|
|
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