Nubian Confirms Closing of Private Private Placement
04 October 2024 - 7:00AM
Nubian Resources Ltd. (TSX-V: NBR | OTCQB: NBRFF)
(“
Nubian” or the “
Company”)
announces that further to the Company’s press release of June 28,
2024 that provided disclosure on the closing of an initial tranche
of a private placement financing (the “
Private
Placement”), Nubian confirms that no further funds were
raised in the Private Placement and it is completed.
Pursuant to the initial and final tranche of the
Private Placement, the Company issued 4,416,667 units (each, a
“Unit”) at a price of $0.06 per Unit for gross
proceeds of $265,000. Each Unit was comprised of one common share
in the capital of the Company (each, a “Common
Share”) and one-half of one common share purchase warrant
(each whole common share purchase warrant, a
“Warrant”) of the Company. Each Warrant entitles
the holder to purchase one common share of the Company at a price
of $0.08 until June 25, 2026.
In connection with the Private Placement, the
Company paid finder’s fees of $10,150 and issued 169,166 finder’s
warrants (each, a “Finder’s Warrant”) in
accordance with the policies of the TSX Venture Exchange. Each
Finder’s Warrant is exercisable at $0.06 into one finder’s unit
(“Finder’s Unit”) until June 25, 2026. Each
Finder’s Unit is comprised of one Common Share and one-half of one
common share purchase Warrant.
ABOUT NUBIAN
Nubian Resources Ltd. is a publicly traded
precious and base metals exploration company listed on the TSX
Venture Exchange. The Company is managed by a team of experienced
mining and geological professionals. Nubian’s projects are focused
on key mining jurisdictions including Peru and Australia (central
Victoria and Tasmania).
For further information, please contact:
Martin Walter, Chief Executive Officer, Nubian
Resources Ltd., at +1-416-389-5692 or martin@nubianr.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD LOOKING
STATEMENTS
Certain statements contained in this press
release constitute forward-looking information. These statements
relate to future events or future performance. The use of any of
the words "could", "intend", "expect", "believe", "will",
"projected", "estimated", "may" and similar expressions and
statements relating to matters that are not historical facts are
intended to identify forward-looking information and are based on
Nubian’s current beliefs or assumptions as to the outcome and
timing of such future events. Actual future results may differ
materially. Although such statements are based on reasonable
assumptions of Nubian’s management, there can be no assurance that
any conclusions or forecasts will prove to be accurate.
Forward looking information involves known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking information, including
the closing of the Private Placement and use of proceeds. Such
factors include risks inherent in the exploration and development
of mineral deposits, including risks relating to changes in
parameters of the projects as plans continue to be redefined, risks
relating to variations in grade or recovery rates, risks relating
to changes in mineral prices and the worldwide demand for and
supply of minerals, risks related to the COVID-19 pandemic and
current global financial conditions, increased competition, access
and supply risks, reliance on key personnel, operational risks,
regulatory risks, including risks relating to licenses and permits,
financing, capitalization and liquidity risks and title and
environmental risks.
The forward-looking information contained in
this release is made as of the date hereof, and Nubian is not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws.
Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
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