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NUBIAN TO INCREASE HOLDINGS IN ATHENA GOLD CORPORATION AND ANNOUNCES NON-BROKERED $600,000 PRIVATE PLACEMENT
NUBIAN TO INCREASE HOLDINGS IN ATHENA GOLD CORPORATION AND ANNOUNCES NON-BROKERED $600,000 PRIVAT...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n \n \n \n NUBIAN TO INCREASE HOLDINGS IN ATHENA GOLD CORPORATION AND ANNOUNCES NON-BROKERED $600,000 PRIVATE PLACEMENT\n \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 Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES\n \n OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 17, 2023\n \n \n /CNW/ - Nubian Resources Ltd. (TSXV: NBR) (OTCQB: NBRFF) (\"Nubian\" or the \"Company\") announces its intention to undertake a non-brokered private placement for further investment in Athena Gold Corporation (\"Athena\") to undertake its follow-up drilling program at the Excelsior Springs Project, located in\n \n Esmeralda County, Nevada\n \n (\"Excelsior Springs\"), for exploration activities at the Company's Fosterville East Project, located in central\n \n Victoria, Australia\n \n , and for general working capital purposes.\n \n \n \n \n \n \n \n \n \n The non-brokered private placement will consist of the issuance of up to 7,500,000 units, each Unit being priced at\n \n $0.08\n \n and comprising one common share and one common share purchase warrant (a \"Warrant\") for aggregate gross proceeds of\n \n $600,000\n \n (the \"Private Placement\").  Each Warrant will be exercisable at\n \n $0.10\n \n for a period of 24 months post the closing date.  In connection with the private placement, the Company may pay finder's fees of 6% cash and 6% compensation warrants in accordance with the policies of the TSX Venture Exchange.\n \n \n Nubian intends to invest\n \n $350,000\n \n of the Private Placement in Athena's current non-brokered private placement to maintain its ownership position in Athena and the Excelsior Springs gold project.  In 2022, Athena drilled three holes in the Western Slope zone at Excelsior Springs that identified two zones of high-grade and shallow mineralization less than 120 metres deep, which included 6.05 g/t Au over 27.4 metres at a 40-metre depth, a second deeper zone of 4.49 g/t Au over 7.6 metres, and a...