Nitinat Enters into Subscription Agreement
12 2월 2014 - 5:58AM
Marketwired
Nitinat Enters into Subscription Agreement
TORONTO, ONTARIO--(Marketwired - Feb 11, 2014) - Nitinat
Minerals Corporation ("Nitinat" or the "Corporation")
(TSX-VENTURE:NZZ)(FRANKFURT:04U) is pleased to announce that it has
entered into a subscription agreement dated January 31, 2014 (the
"Agreement") with Global Resources Investment Ltd. ("Global").
Pursuant to the terms of the Agreement:
- the Corporation has agreed to subscribe for an aggregate of
248,962 ordinary shares in the capital of Global at a deemed price
of £1.00 per share (the "Global Shares"); and
- Global has agreed to receive an aggregate of 9,000,000 units
(the "Units") in the capital of the Corporation at a deemed price
of $0.05 per Unit as full consideration for the Global Shares. Each
Unit is comprised of one (1) common share (the "Nitinat Shares")
and one (1) common share purchase warrant. Each warrant will
entitle Global to acquire one (1) common share (the "Warrant
shares") in the capital of the Corporation at an exercise price of
$0.05 per share for a period of five (5) years from date of
issuance.
As the issuance of the Nitinat Shares and Warrant Shares may
result in Global becoming a control person of the Corporation, the
rules of the TSX Venture Exchange require that the Corporation
obtain shareholder approval (excluding those shares owned and/or
controlled by Global) for the issuance of the Units. In obtaining
such approval, the Corporation will be obtaining shareholder
approval by way of written confirmation.
The closing of the transaction is scheduled to occur on or about
February 14, 2014. The securities issued under or in connection
with the transaction will be subject to a four (4) month hold
period. Completion of the transaction is subject to a number of
conditions, including, without limitation, receipt of all
applicable regulatory approvals.
The TSX
Venture Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release.
This press release contains forward-looking statements based
on assumptions, uncertainties and management's best estimates of
future events. Actual results may differ materially from those
currently anticipated. Investors are cautioned that such
forward-looking statements involve risks and uncertainties.
Important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements are detailed from time to time in the Corporation's
periodic reports filed with the Ontario Securities Commission and
other regulatory authorities. The Corporation has no
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Nitinat Minerals CorporationHerb BrughPresident and Director of
the Corporation416.216.0964www.nitinatminerals.com
Nitinat Minerals (TSXV:NZZ)
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Nitinat Minerals (TSXV:NZZ)
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