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Gold/Mining/Energy : NEVSUN
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To: I_C_Deadpeople who wrote (182)6/6/2002 10:51:12 AM
From: I_C_Deadpeople  Read Replies (1) of 205
 
Nevsun Resources arranges $10-million financing

Nevsun Resources Ltd NSU
Shares issued 27,257,209 Jun 5 close $1.83
Thu 6 Jun 2002 News Release
Dr. John Clarke reports
NEVSUN RESOURCES LTD.: $10 MILLION PRIVATE PLACEMENT FINANCING
Nevsun Resources has engaged Salman Partners Inc. to act as its lead agent
in a syndicate including Canaccord Capital Corp. and Haywood Securities
Inc. to market by way of a private placement up to five million units at a
price of $2.00 per unit. Each unit will consist of one common share and
one-half of a common share purchase warrant with each full warrant
entitling the holder to purchase one common share of the company at an
exercise price of $2.00 per common share for a period of 18 months from
closing. The company has agreed to an oversubscription option of 25 per
cent on the units exercisable two days prior to closing.
The company has agreed to pay the agents a commission of 7 per cent of the
gross proceeds of the private placement, payable upon closing. In addition,
the company has agreed to issue an option to the agents to acquire up to
500,000 units for a period of one year at an exercise price of $2.00 per
agents' unit. The terms of the agents' units are the same as the units.
The proceeds of this placement will be used to help finance the acquisition
of the Segala gold property and related development of the Segala project,
exploration at Segala and other recently acquired properties surrounding
Tabakoto, further acquisitions and for working capital. The terms of the
private placement are subject to regulatory approval.
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