NIK-V - News Release March 28, '14
Greencastle Resources Ltd. has acquired one million units of Nikos Explorations Ltd. at a price of 10 cents per unit, with each unit consisting of one share of Nikos and one warrant entitling the holder thereof to purchase one additional share at a price of 15 cents for a period of 24 months.
Anthony Roodenburg, chief executive officer, explained the investment rationale: "We have been following the progress at Probe Mines' Borden Lake gold discovery for many months. This investment in Nikos is a practical way for Greencastle to become involved in the area with an experienced management team, an excellent land position and a very reasonable capital structure. We think news for this area is likely to pick up significantly."
Nikos president Dr. Roger Moss commented, "We are very pleased with the vote of confidence in Nikos on the part of Greencastle and the recognition of the strategic location of our land package to the southeast of Probe Mines' Borden Lake gold discovery."
There are currently approximately 12,065,074 common shares of Nikos issued and outstanding. Greencastle has ownership and/or control and direction over, an aggregate of one million common shares of Nikos on an undiluted basis, representing 8.29 per cent of the issued and outstanding common shares of Nikos. Greencastle owns and/or exercises control or direction over warrants entitling the purchase of an aggregate one million common shares of Nikos. Assuming the exercises of convertible securities Greencastle would own and/or exercise control or direction over, an aggregate total of two million common shares or approximately 15.31 per cent of the issued and outstanding common shares of Nikos on a fully diluted basis.
Greencastle acquired the securities for investment purposes and it may make additional investment in or dispositions of securities of Nikos, depending on price, availability and general market conditions.
A copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with Greencastle's shareholdings in Nikos may be found at SEDAR under Nikos's profile.
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Company presentation
nikosexplorations.com
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So not only is Borden an emerging discovery within a discovery, but potentially an entirely new district that hosts multiple zones of this nature, much of whose relevant geology Probe already controls”. John Kaiser commenting on Probe’s adjacent Borden Lake Project |
