NQ Exploration Closes a Private Placement of $450,240
(firmenpresse) - LAVAL, QUEBEC -- (Marketwire) -- 12/29/11 -- NQ Exploration Inc. (TSX VENTURE: NQE) announces the closing of a brokered private placement by Industrial Alliance Securities Inc. (the "Agent") for total gross proceeds of $450,240 (the "Placement").
Under the terms of this Placement, NQ issued a total of 402 flow-through units a price of $1,120 per unit. Each unit consists of 10,500 flow-through shares at a price of $0.085 per share, 3,500 common shares at a price of $0.065 per share and 3,500 warrants, each warrant entitling the holder thereof the right to purchase one common share of NQ at the price of $0.12 per share for a period of 12 months from Closing.
Under the Placement, NQ paid the Agent a cash commission of 9% of the Gross Proceeds and issued a total of 281,400 non-transferable broker warrants (the "Broker Warrants"). Each Broker Warrant entitles the holder thereof the right to purchase one common share of NQ at a price of $0.12 per share for a period of 18 months from the Closing. The securities issued under this Placement will be subject to a four-month and one day hold period expiring on April 30, 2012.
The proceeds of the Offering combined, with existing working capital, will be used by NQ to conduct exploration programs in 2012 and for general working capital.
ABOUT NQ EXPLORATION INC.
NQ Exploration Inc. is a new mining exploration company with a solid portfolio of 11 mining properties in the James Bay and Abitibi regions of Quebec. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits.
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.
Contacts:
David Grondin
President and Chief Executive Officer
(514) 206-7727
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Datum: 29.12.2011 - 20:09 Uhr
Sprache: Deutsch
News-ID 100226
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contact information:
Town:
LAVAL, QUEBEC
Kategorie:
Mining & Metals
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