Thursday, 26 April 2012

NQ Exploration closes non-brokered private placement

NQ Exploration (CVE:NQE) said Thursday it has closed a non-brokered private placement for a total of $100,000.
The placement consisted of 1.54 million share units priced at 6.5 cents per unit. Each unit consists of one common share and one half warrant, entitling the holder to purchase one common share of the company for 10 cents for a period of two years.
The company said no member of the pro group and no insider of the company participated in the private placement.
NQ plans to use the proceeds for working capital purposes.
The mining exploration company has a portfolio of 10 mining properties in the James Bay and Abitibi regions of Quebec.
Earlier this month, NQ said it agreed to sell its interest in the Star Lake property in the James Bay area of Quebec to Minerva Financial Corp in a $200,000 deal.
The property, which is located 120 kilometres southeast of the town of Radisson, consists of 89 contiguous map-designated claims that cover a total area of 46 square kilometres.

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