Business
NAINA CAPITAL CORP. - CONDITIONAL APPROVAL OF EL CRESTON PROPERTY
May 9, 2011 (Canada NewsWire Group) -- Symbol:-TSXV: NAA NON-BROKERED PRIVATE PLACEME...
About this update from Enduro Metals Corporation
[{"type":"text","content":"\n\n\n May 9, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nSymbol:-TSXV: NAA \n\n\nNON-BROKERED PRIVATE PLACEMENT, NAME CHANGE\n\n\nVANCOUVER, May 9 /CNW/ - NAINA CAPITAL CORP. (the "Company") is pleased to announce that it has received conditional approval of the\n acquisition of the El Creston iron-ore property. As previously\n announced, the Company has acquired an option to earn a 50% interest in\n the iron ore mined from the El Creston property in Sinaloa, Mexico,\n subject to regulatory approval. Minor items remain outstanding and are\n being addressed; final approval is expected from the TSXV in the\n ordinary course.\n\n\nThe Company announces a unit private placement whereby up to 4,000,000\n units will be offered to qualified investors at a price of $0.80 per\n unit. Each unit will consist of one common share and one-half of one\n share purchase warrant. A full warrant will entitle the holder to\n acquire one additional share at a price of $1.00 for 24-months from\n closing. The proceeds will be used to conduct operations on the El\n Creston property and general working capital. Subject to regulatory\n approval, the private placement is expected to close within 30-days.\n\n\nThe El Creston property is an iron prospect comprising some 500.5\n hectares located 25km north-northeast of the city of Choix in Sinaloa\n State, Mexico. The property is in an early stage of exploration with\n work consisting of geological mapping, sampling and trenching using an\n e...