Nubian Closes Private Placement Fully Subscribed
Nubian Closes Private Placement Fully
Subscribed
VANCOUVER
,
Aug. 2, 2018
/CNW/ - Nubian Resources Ltd. ("Nubian" or the "Company") (TSX
VENTURE: NBR) is pleased to announce that further to its press release of
July 30
th
, 2018, the
Company has received the final subscription funds to close the
$500,000
private placement,
pursuant to receipt of subscriptions for 2,000,000 units at a price of CDN
$0.25
per unit, with each
unit comprising one common share and one-half of a transferable share purchase warrant (a
"Warrant"), and with each whole Warrant exercisable for a period of 24 months at
$0.40
from the
date of issuance (the "Units", and the "Private Placement", previously announced on
May 29
, 2018).
The Company closed the first tranche through the issuance of 1,600,000 Units on
July 24, 2018
and
the second tranche through the issuance of 400,000 Units on
August 1, 2018
.
Insiders of the Company subscribed for 180,000 units in the Private Placement aggregating
$45,000
. Finder's Fees in the amount of
$12,000
in cash and 48,000 broker warrants were issued
to two registered dealers in relation to two subscribers. Each such broker warrant is exercisable for
a period of 24 months at
$0.25
per broker warrant into Units.
In accordance with regulatory requirements, all securities issued under the Private Placement are
subject to a four month and one day "hold period". The Private Placement is subject to final
approval by the TSX Venture Exchange.
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.
View original content: http://www.newswire.ca/en/releases/archive/August2018/02/c6542.html
%SEDAR: 00024798E
For further information:
Martin Walter, Chief Executive Officer, Nubian Resources Ltd, at 416 389
5692 or [email protected].
CO: Nubian Resources Ltd.
CNW 17:57e 02-AUG-18