Nitinat Minerals Corp. Closes Private Placement
Toronto, Feb. 8, 2018 - Nitinat Minerals Corp. (TSXV: NZZ) (the "Corporation") is pleased to announce that, further to its press release dated December 6, 2017, the Corporation issued an aggregate of 5,204,100 units (the "Units") of the Corporation at a price of $0.05 per Unit for aggregate gross proceeds of $260,205. Each Unit is comprised of one (1) common share and one (1) common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one (1) common share at an exercise price of $0.07 per Warrant at any time until 5:00 p.m. on December 28, 2022. In connection with the issuance of the Units, the Corporation paid finders' fees of $20,416.40 in cash and issued an aggregate of 408,328 broker warrants (the "Broker Warrants") to arm's length third parties. Each Broker Warrant entitles the holder thereof to purchase one (1) Unit at an exercise price of $0.05 per Broker Warrant at any time until 5:00 p.m. on December 28, 2022.
The securities issued pursuant to the private placement are subject to resale restrictions expiring April 29, 2018. The Corporation intends to use the proceeds for general working capital.
Corporation contact:
Herb Brugh, President and Director
Tel: 416.216.0964
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward-looking statements and Nitinat assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.