VANCOUVER, Nov. 7, 2011 /CNW/ - Nubian Resources Ltd. (the "Company") is
pleased to announce that it has closed its private placement (the
"Placement") announced on November 1, 2011, issuing $130,000 in
principal amount of convertible promissory notes (the "Notes") for
gross proceeds of $130,000. For details regarding the Placement and
the Notes, please see the Company's news release dated November 1,
The securities issued pursuant to the Placement are subject to a four
month hold period expiring March 4, 2012. No finder's fees were paid
in respect of the Placement.
The Company also reports, on behalf of Markus Janser of Parkmore, South
Africa, a director of the Company, that he acquired (the "Acquisition")
ownership and control of a Note in the principal amount of $90,000 (the
"Acquired Security") pursuant to the Placement.
Prior to the Acquisition, Mr. Janser held 600,000 common shares of the
Company, or approximately 8.36% of the 7,177,773 common shares of the
Company then outstanding, together with share purchase warrants to
acquire 200,000 common shares of the Company and stock options to
acquire a further 130,000 common shares of the Company.
After the Acquisition, Mr. Janser held 600,000 common shares of the
Company; the Acquired Security; 200,000 share purchase warrants of the
Company; and 130,000 stock options of the Company. After the
Acquisition, the 600,000 common shares of the Company represented
approximately 8.36% of the 7,177,773 common shares of the Company then
outstanding. Assuming the conversion of the Acquired Security (at a
conversion price of $0.18 per share) and the exercise of the share
purchase warrants and stock options, Mr. Janser would then hold
1,430,000 common shares of the Company, or approximately 17.86% of the
8,007,773 common shares of the Company that would then be outstanding.
The Acquisition was an issuance of securities from the Company's
treasury. Mr. Janser paid consideration in the amount of $90,000 in
cash for the Acquired Security. The Company has been advised that he
effected the Acquisition for investment purposes, and has no present
intention to acquire further securities of the Company, although he may
in the future participate in financings and/or acquire or dispose of
securities of the Company in the market, privately, or otherwise, as
circumstances or market conditions warrant.
A copy of the early warning report to which this news release relates
may be obtained from:
Nubian Resources Ltd.
#202 - Yale Court Plaza, 2526 Yale Court Rd.
Abbotsford, BC, V2S 8G9
Tel: (604) 859-3007
Fax: (604) 859-3008
Attn: Corporate Secretary
The issuance of this News Release is not an admission that an entity
named in the news release owns or controls any described securities or
is a joint actor with another named entity.
TSX Venture Exchange Disclaimer
Neither 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.
Forward-Looking Statement Disclaimer
This News Release may include forward looking statements. Statements in
this News Release which are not historical facts are forward looking
statements. Statements concerning the Company's plans, intentions,
expectations, forecasts and estimates are intended to be and are hereby
identified as forward looking statements.
Forward-looking statements may be identified by words including "plans",
"intends", "expects", "forecasts", "estimates", "anticipates",
"believes" and similar expressions. The Company cautions readers that
forward-looking statements, including without limitation those relating
to the Company's future plans, operations and business prospects, are
based on assumptions, none of which can be assured, and are subject to certain risks and uncertainties that could cause actual
events, developments and results to differ materially from those
indicated in the forward-looking statements. There can be no
assurances that forward looking statements will prove to be accurate,
and readers should not place undue reliance on forward-looking
SOURCE Nubian Resources Ltd.
For further information: