Nautilus Minerals Inc. (TSX:NUS) (OTC:NUSMF Nasdaq Intl Designation) announces that it has closed its previously announced private placement pursuant to its financing notice dated July 21, 2017, delivered under the Company’s subscription agreement with Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Limited dated August 21, 2016, as amended.
At the closing, the Company issued an aggregate of 11,761,682 common shares to the Investors at an issue price of C$0.214 per share for aggregate proceeds to the Company of US$2,000,000. The private placement was allocated equally between the two Investors.
The private placement forms part of the up to US$20 million financing approved by the Company’s shareholders at the extraordinary general meeting of the Company held on October 26, 2016.
About Nautilus Minerals Inc.
Nautilus 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. The Company has also been granted its environmental permit for this site.
Nautilus also holds highly prospective exploration acreage in the western Pacific (granted and under application), as well as in international waters in the Central Pacific.
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