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Provider : ValuEngine, Inc.
Provider : ValuEngine, Inc.
Provider : Reuters Investment Profile
Provider : Pechala's Reports

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NovaCopper Inc announces private placement financing

Tuesday, 1 Jul 2014 04:18pm EDT 

NovaCopper Inc:Enters into definitive agreements with existing shareholders to complete non-brokered private placement offering of $7,500,000 in Units.Each Unit will be priced at $1.15 per Unit and will consist of one common share of the Company and one common share purchase warrant.Each common share purchase warrant will entitle the holder to purchase one common share of the Company at a price of $1.60 per share for a period of five years from the closing date.All amounts are in US dollars.Offering is being purchased by the Company's largest shareholders, including Electrum Strategic Resources LP and Paulson & Co. Inc.Use of proceeds of $7.5 mln will be restricted for 12 months following closing to a maximum of $4.0 mln on general and administrative expenses (G&A) of Company, $2.7 mln on program expenditures and $0.8 mln on extraordinary expenses incurred in reducing annual G&A.Offering is scheduled to close on or before July 3, 2014. 

Company Quote

30 Jul 2015