Nautilus Minerals Inc. (TSX: NUS) (the "Company" or "Nautilus") announces that it has closed its previously announced private placement pursuant to its financing notice dated November 21, 2016 delivered under the Company's subscription agreement with Mawarid Offshore Mining Ltd. and Metalloinvest Holding (Cyprus) Limited (together, the "Investors") dated August 21, 2016, as amended.
At the closing, the Company issued an aggregate of 15,539,080 common shares to the Investors at an issue price of C$0.174 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.
The Company also announces that the directors have approved the issuance of 600,000 loan shares and 800,000 stock options, at an issue price or exercise price, as the case may be, of C$0.17 per share, to certain directors of the Company in accordance with the provisions of the Company's share loan plan and stock option plan. The securities will vest as to 20% on January 1, 2017 and 20% every six months thereafter, with an expiry date of July 1, 2019.
Source: Nautilus Minerals
