Non-brokered offering will finance exploration and working capital
By Devika Patel
Knoxville, Tenn., June 14 – Alexander Nubia International Inc. said it raised C$330,000 in the first tranche of a C$2 million non-brokered private placement of stock. The deal priced on May 3.
The company is selling 40 million common shares at C$0.05 each, a 16.67% discount to the May 2 closing share price of C$0.06. It sold 6.6 million shares in the initial tranche.
Ou Hektik bought 4 million shares for C$200,000.
Settlement of a second tranche is expected June 20.
Proceeds will be used to fund exploration activities at the company’s Abu Marawat and Fatiri concessions, general and administrative expenses and working capital purposes.
Alexander Nubia is a gold exploration company based in Toronto.
| Issuer: | Alexander Nubia International Inc.
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| Issue: | Common stock
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| Amount: | C$2 million
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| Shares: | 40 million
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| Price: | C$0.05
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| Warrants: | No
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| Agent: | Non-brokered
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| Investor: | Ou Hektik (for C$200,000)
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| Announcement date: | May 3
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| Settlement date: | June 14 (for C$330,000), June 20
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| Stock symbol: | TSX Venture: AAN
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| Stock price: | C$0.06 at close May 2
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| Market capitalization: | C$3.66 million
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