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Nikos Announces Non-Brokered C$2 Million Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - September 28, 2017) - Nikos Explorations Ltd. (...
About this update from Labrador Gold Corp
[{"type":"text","content":"Nikos Announces Non-Brokered C$2 Million Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - September 28, 2017) - Nikos Explorations Ltd. (TSXV: NIK) (\"Nikos\" or the \"Company\") is pleased to announce its intention to carry out a non-brokered private placement offering (the \"Private Placement\") of approximately 7,400,000 units (\"Units\") at a price of CDN$0.20 per Unit for gross proceeds of approximately CDN$1,480,000. Each Unit will consist of one common share of the Company (\"Share\") and one warrant (\"Warrant\") entitling the holder thereof to purchase one additional Share at a price of CDN$0.30 for a period of 24 months from closing. The Company also intends to carry out a non-brokered private placement (the \"FT Offering\") of approximately 2,080,000 flow-through units (the \"FT Unit\") at a price of CDN$0.25 per unit (to raise gross proceeds of approximately CDN$520,000. Each FT Unit will consist of one common share of the Company (\"FT Share\") and one warrant (\"FT Warrant\") entitling the holder thereof to purchase one additional Share at a price of CDN$0.35 for a period of 24 months from closing.The Private Placement and FT Offering are subject to regulatory approval, including approval of the TSX Venture Exchange. All securities issued in connection with the Private Placement and FT Offering will be subject to a hold period of four months from the date of closing. The Company may pay a Finder's Fee on all or a portion of the Private Placement and FT Offering.Mr. Shawn Ryan, vendor of the Company's Labrador Properties and a Technical Advisor to the Company, as well as insiders of the Company are expected to subscribe for a significant portion of the Private Placement and FT Offering.The net proceeds from the proposed financings will primarily be used to fund an exploration program at the Company's Labrador properties and for working capital purposes.The securities offered pursuant to this news release have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may be not be offered or sold in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securi...