pcNewsWire – Nubian Resources Ltd. (TSX-V: NBR) intends to close a non-brokered private placement of up to 2,000,000 units at $0.20 per unit for gross proceeds of up to $400,000.
Proceeds will be used for potential future property appraisals, property and maintenance and general working capital.
News Release
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
NUBIAN RESOURCES ANNOUNCES PRIVATE PLACEMENT FINANCING
May 23, 2017 – Nubian Resources Ltd. (“Nubian” or the “Company”) (TSX VENTURE: NBR) is pleased to announce a non-brokered private placement consisting of up to 2,000,000 units (“Units”) at a price of CDN $0.20 per Unit to raise gross proceeds of up to CDN $400,000 (the “Private Placement”). Each Unit will consist of one common share in the capital of the Company and one-half of a transferable share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company for a period of twenty-four months from the closing date, at a purchase price of CDN $0.30 per share.
The Company may pay finder’s fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued under the Private Placement will be subject to a four month and one day “hold period” under applicable Canadian securities legislation.
Proceeds of the Private Placement will be used for potential future property appraisals, property and maintenance and general working capital.
The Private Placement is subject to approval of the TSX Venture Exchange.
FOR FURTHER INFORMATION PLEASE CONTACT:
Larry Treadgold
Chief Executive Officer
Nubian Resources Ltd.
Office: 604-870-4988
Jeannette Durand: jeannette@nubianr.com
Web Page: www.nubianr.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Nubian Resources Ltd.
