NIKOS Announces Completion of Private Placement
March 27 2014 - 8:00AM
Marketwired
NIKOS Announces Completion of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 27, 2014) -
Nikos Explorations Ltd. (TSX-VENTURE:NIK) ("Nikos" or the
"Company") is pleased to announce that it has received TSXV
approval of and completed the non-brokered private placement
("Private Placement") announced in its press release of March 13,
2013. The Private Placement was oversubscribed, as the Company
raised gross proceeds of $140,000 from the sale of 1,400,000 units
at a price of $0.10 per Unit, with each Unit consisting of one
common share ("Share") and one warrant entitling the holder thereof
to purchase one additional Share of the Company at a price of $0.15
for the period to March 25, 2016. The net proceeds from the Private
Placement will be used for continuing exploration on and in
connection with the acquisition of the Borden Lake Extension
Project, and for working capital. The securities being issued
pursuant to the Private Placement will be subject to a four month
hold period to July 26, 2014 in accordance with applicable Canadian
securities law.
The securities offered pursuant to the Private Placement have
not been and will not be registered under the U.S. Securities Act
of 1933, as amended, or applicable state securities laws, and may
be not be offered or sold in the United States absent registration
or an exemption from such registration requirements. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Borden Lake Extension:
The Borden Lake Extension Project lies immediately east of Probe
Mines' Borden Lake gold property where recent exploration has
defined pit constrained indicated resources of 3,686,000 ounces of
gold (112,844 M tonnes grading 1.02g/t gold) and inferred resources
of 625,000 ounces of gold (18,036 M tonnes grading 1.08g/t gold) at
a 0.5g/t cut-off grade. Exploration carried out by Nikos is the
first known work on the property, which is located in the
Kapuskasing structural zone. Nikos holds an option to earn a 100%
interest in the property. Note that mineralization on the Probe
Mines property may not be representative of mineralization that may
be found on the Nikos Property, nor is there any guarantee that
economic mineralization will be identified on the Nikos
Property.
About Nikos Explorations:
Nikos Explorations is a Canadian based mineral exploration
company focused on the acquisition and exploration of prospective
gold projects in the Americas. The company has 10,665,081 shares
issued and outstanding and trades on the TSX Venture Exchange under
the symbol NIK.
Roger Moss, PhD., P. Geo., is the qualified person for all
technical information in this release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Nikos Explorations Ltd.Roger
MossPresident416-516-6050www.nikosexplorations.com
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