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Nubian Announces $4.2 Million Investment by Eric Sprott
Nubian Announces $4.2 Million Investment by Eric Sprott Canada NewsWire TORONTO,...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\nNubian Announces $4.2 Million Investment by Eric Sprott\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 7, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ \n TORONTO, Aug. 7, 2020 /CNW/ - Nubian Resources Ltd. (\"Nubian\" or the \"Company\") (TSXV: NBR) is pleased to announce a non-brokered private placement offering of units of the Company (the \"Units\") at a price of $0.42 per Unit (the \"Offering Price\") for aggregate gross proceeds of up to $4,200,000 (the \"Offering\").  Eric Sprott intends to subscribe for the entirety of the Offering.\nEach Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will be exercisable to purchase a common share of the Company (a \"Warrant Share\") at an exercise price of $0.55 per Warrant Share for a period of 24 months following the closing of the Offering.\nMartin Walter, President & CEO of Nubian stated, \"Nubian management appreciates Eric Sprott's support, not only for our own Company but his unmatched commitment to support the mineral exploration industry. We are moving forward at Nubian with a lot of energy now and this funding will enable us to bring our Peruvian-based Esquilache Silver Project and our Victoria and Tasmanian Gold projects to their next stage of development.\"\nThe Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes. The Offering is anticipated to close on or about August 14, 2020 (the \"Closing Date\" or \"Closing\"). The Units and the underlying securities to be issued under the Offering will have a hold period of four months and one day from Closing.\nIn connection with the Offering, the Company has agreed to pay a finders' fees (the \"Finder's Fee\") in cash equal to 6% of the gross proceeds from the sale of Units and ...