TORONTO, ONTARIO, Nov 06 (MARKET WIRE) --
Nitinat Minerals Corporation (the "Company") is pleased to announce that
it has completed a non-brokered private placement (the "Private
Placement") of an aggregate of 25,000 units (each, a "Unit") at the price
of $0.40 per Unit for total gross proceeds of $10,000 to two (2) non
arm's length parties. Each Unit is comprised of one common share of the
Company and one-half of one Series A common share purchase warrant (a
"Series A Warrant"). Each whole Series A Warrant will entitle the holder
to purchase one additional common share of the Company at $0.60 per share
until November 5, 2010.
Under the Private Placement, 12,500 Units were subscribed for by Vernon
Briggs, a director of the Company, and 12,500 Units were subscribed for
by Herbert Brugh, the secretary of the Company. Messieurs Brugh and
Briggs completed the Private Placement in order to satisfy one of TSX
Venture Exchange's listing conditions.
The securities issued pursuant to the Private Placement are subject to a
four-month hold period which expires on March 6, 2010.
Net proceeds from the sale of the Units under the Private Placement are
intended to be used for the exploration of the Company's Jasper property.
Neither 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.
Contacts:
Nitinat Minerals Corporation
Wayne Isaacs
President, Director
(416) 363-3582
Copyright 2009, Market Wire, All rights reserved.
-0-
