Non-brokered deal is slated to fund exploration and working capital
By Devika Patel
Knoxville, Tenn., June 2 – Nouveau Monde Mining Enterprises Inc. announced it will conduct a C$1.5 million non-brokered private placement of units and stock.
The company will sell units of one common share and one half-share warrant at C$0.25 per unit and 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.
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| Issue: | Units of one common share and one half-share warrant, flow-through common shares
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| Amount: | C$1.5 million
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| Agents: | Non-brokered
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| Pricing date: | June 2
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| Settlement date: | June 15
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| Stock symbol: | TSX Venture: NOU
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| Stock price: | C$0.27 at close June 1
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| Market capitalization: | C$14.49 million
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| Units
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.35
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| Shares
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| Price: | C$0.30
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| Warrants: | No
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