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| | December 23, 2009
Nanika Announces Closing Of Private Placement
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| | Nanika Resources Inc. (TSXV: NKA and FSE: C7X) announces that the private placement announced on December 1, 2009 has closed.
The private placement involved the sale of 698,765 flow-through units at the price of $0.10125 and 2,076,000 non flow-through units at the price of $0.08 per unit for gross proceeds of $236,829.96.
The non flow-through units were comprised of one non flow-through share and one warrant, with each warrant entitling the holder to purchase one additional non flow-through common share at a price of 12 cents per share in the first twelve months and 14 cents in the subsequent twelve months. All securities issued are subject to a four month hold period and cannot be resold until March 23, 2009. The flow-through units had the same terms except that the shares forming the units were flow-through shares.
With respect to certain subscriptions Nanika paid three finders 10% cash finder's fee totaling $17,651.75
About Nanika Resources Inc.
Nanika Resources Inc. is a TSX Venture listed mineral exploration and development company focusing on the advancement of its mineral properties, all of which are located within Canada.
On Behalf of the Board
James D. Jacuta
Chairman, President and CEO.
For further information contact:
Matthew Emery or Douglas Kerr:
Telephone: 604-638-0699
Toll Free: 1-866-580-0699
http://www.nanikaresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release. |
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| | You can view the Next News Releases item: Tue Jan 26, 2010, Nanika completes drilling on the Ted and Sweeney properties
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