Toronto (pcJ News Briefs) – Nautilus Minerals Inc. (TSX: NUS; OTCQX: NUSMF) has closed its previously announced private placement pursuant to its financing agreement with Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Limited.
At the closing, Nautilus Minerals issued an aggregate of 12,507,042 common shares at an issue price of CDN $0.213 per share for aggregate proceeds of US $2,000,000. The private placement was allocated equally between the two Investors.
The private placement is the 3rd tranche (US $6 million in aggregate) forms part of the up to US $20 million financing agreement with Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Limited dated August 21, 2016.
Nautilus Minerals Inc. is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver.
photo credit: Nautilus Minerals