Nautilus Nautilus to Raise Funds and Continue Equipment Build
August 01 2012 - 7:48AM
UK Regulatory
TIDMNUS
Nautilus to Raise Funds and Continue Equipment Build
FOR: NAUTILUS MINERALS INC.
TSX SYMBOL: NUS
OTCQX SYMBOL: NUSMF
AIM SYMBOL: NUS
August 1, 2012
Nautilus to Raise Funds and Continue Equipment Build
TORONTO, ONTARIO--(Marketwire - Aug. 1, 2012) - Nautilus Minerals (TSX:NUS)(OTCQX:NUSMF)(AIM:NUS) is to raise approximately
CAD$34 million through a private placement of common shares to assist with the continued funding of its Seafloor
Production System.
The placement will involve the issue of approximately 37.7 million shares to a number of investors at a price of CAD$0.90 per
share.
Nautilus President and CEO, Steve Rogers, said the private placement would provide funds to continue the build of the
company's Seafloor Production System (the "System") including key pieces of equipment such as the Seafloor Production
Tools and Riser and Lift System.
"At the end of June 2012, the major equipment items of the System were 51% complete, and a significant percentage of the sub
components have been delivered," said Mr Rogers.
Existing Nautilus strategic shareholders, MB Holdings, Metalloinvest and Anglo American, are participating in the private
placement. MB Holdings, through its wholly-owned subsidiary Mawarid Offshore Mining Ltd. ("Mawarid"), has subscribed for
20.0 million shares, increasing its stake to 16.9%, Metalloinvest has subscribed for approximately 8.3 million shares to
maintain its interest in Nautilus at 21%, and Anglo American has subscribed for approximately 4.4 million shares on the
basis that its stake will be maintained at 11.1%. The subscription numbers and post-closing percentage holdings assume
the completion of the private placement as planned. Other large investors have subscribed for the remaining 5.0 million
shares to be issued.
Mr Rogers said that there was strong support from the major shareholders for the company to maintain the build program for the
System and ensure the realisation of deep sea resource production as an industry.
Under the terms of the agreements, the private placement will be completed in two tranches, with the first closing taking
place on August 3, 2012. Nautilus has also increased the anti-dilution right previously granted to Mawarid as part of
its 2011 subscription to reflect its new percentage ownership in the company. Mawarid has also been granted the right to
nominate a director to the board of Nautilus as long as it maintains its ownership interest in Nautilus at 15% or more.
Mawarid's nominee, Dr. Mohamed Al Barwani, is the Chairman of MB Holdings LLC. His appointment will be made effective on
closing of the second tranche and receipt of regulatory approval.
The private placement is subject to regulatory approval, including acceptance of the Toronto Stock Exchange. The second
closing will take place following receipt of all regulatory approvals. All securities will be subject to the statutory
four-month hold period in Canada.
Certain of the statements made in this news release may contain forward-looking statements within the meaning of the United
States Securities Exchange Act of 1934 and forward-looking information within the meaning of applicable Canadian
securities law. Forward-looking statements and forward-looking information include, but are not limited to statements or
information with respect to the completion of the private placement and the Seafloor Production System. We have made
numerous assumptions about the material forward-looking statements and information contained herein, including among
other things, that the approved project budget is an accurate estimate of the funding necessary to take the project into
production and that TSX will accept the private placement including the creation of a new insider, being the principal
beneficial owner of Mawarid. Even though our management believes that the assumptions made and the expectations
represented by such statements or information are reasonable, there can be no assurance that the forward-looking
statement or information will prove to be accurate. Forward-looking statements and information by their nature involve
known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different
from any future results expressed or implied by such forward-looking statements or information. Such risks,
uncertainties and other factors include, among others, the risk that the project budget is not an accurate estimate of
funding required, the private placement is not successfully concluded by some or all parties or that regulatory approval
in respect of the private placement is not received. Should one or more of these risks, uncertainties or other factors
materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described
in forward-looking statements and information. Although we have attempted to identify factors that would cause actual
results to differ materially from those described in forward-looking statements and information, there may be other
factors that cause actual results, performances, achievements or events to not be as anticipated, estimated or intended.
Also, many of the factors are beyond our control. There can be no assurance that forward-looking statements or
information will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly you should not place undue reliance on forward-looking statements or
information. Except as required by law, we do not expect to update forward-looking statements and information as
conditions change and you are referred to the full discussion of Nautilus' business contained in Nautilus' reports filed
with the securities regulatory authorities in Canada.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits and is developing
its first project at Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper,
gold and silver. The company has been granted all necessary environmental and mining permits.
Nautilus also holds approximately 600,000 km2 of highly prospective exploration acreage in the western Pacific; in PNG, the
Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific.
A Canadian registered company, Nautilus is listed on the TSX:NUS and AIM:NUS stock exchanges and OTCQX:NUSMF. Its corporate
office is in Brisbane, Australia. Its major shareholders include Metalloinvest, the largest iron ore producer in Europe
and the CIS, which has a 21% holding, global mining group Anglo American, which holds an 11% interest and MB Holdings,
an Oman based group with interests in mining, oil & gas, which holds a 9.98% interest.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Nautilus Minerals Inc. (Toronto)
Investor Relations
+1 (416) 551 1100
investor@nautilusminerals.com
www.nautilusminerals.com
OR
Numis Securities Limited
Alastair Stratton/Stuart Skinner
Nominated adviser
+ 44(0) 20 7260 1000
OR
Numis Securities Limited
James Black
Corporate broking
+ 44(0) 20 7260 1000
OR
Dahlman Rose & Co., LLC
Christopher R. Weekes
Direct: +1 212 372 5766
Neither the TSX, London Stock Exchange, nor the OTCQX accepts responsibility for the adequacy or accuracy of this press
release.
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