01:01:33 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Nevada Clean Magnesium Inc
Symbol NVM
Shares Issued 143,651,450
Close 2014-11-06 C$ 0.045
Market Cap C$ 6,464,315
Recent Sedar Documents

Nevada Clean arranges $150,000 private placement

2014-11-07 12:01 ET - News Release

Mr. Edward Lee reports

NEVADA CLEAN MAGNESIUM ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Nevada Clean Magnesium Inc. is raising up to $150,000 by way of a non-brokered private placement of units of the company at a price of five cents per unit. The offering is subject to TSX Venture Exchange final acceptance.

The offering

The maximum offering is three million units for gross proceeds of up to $150,000. The offering is not subject to any minimum aggregate subscription. Each unit will consist of one common share in the capital of Nevada Clean Magnesium and one common share purchase warrant. Each warrant will be exercisable into one common share for a period of three years at a price of five cents per share during the first two years of the exercise period, and 10 cents per share during the third year of the exercise period. The proceeds of the offering will be used to update the National Instrument 43-101 preliminary economic assessment of the Tami-Mosi magnesium project, for general working capital and for accounts payables, including legal and transfer agent fees. Although the company intends to use the proceeds of the offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations, or unforeseen events or opportunities. If the offering is not fully subscribed, the company will apply the proceeds of the offering to the above uses in priority and in such proportions as management of the company determines is in the best interests of the company.

The securities issued in connection with the offering will be subject to a hold period expiring four months and one day from the date of issuance of such securities.

We seek Safe Harbor.

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