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Re: News Release - Tuesday, December 23, 2008
Nanika Announces Flow-Through Private Placement with
MineralFields
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December 23, 2008: Nanika Resources Inc. (TSXV: NKA and FSE: C7X)
announces that it has agreed to conduct a non-brokered flow-through
private placement with MineralFields for up to 12,500,000 units at
$0.04 per unit for gross proceeds of $500,000.00. Each unit will
consist of one flow-through share and one half a share purchase
warrant. Each full warrant will permit the holder to purchase a non
flow-through share for a period of 24 months from closing of the
private placement at a price of 10 cents in the first 12 months and 12
cents thereafter. It is the intention of the Company to close the
private placement on or before December 31, 2008.
The shares and the warrants are subject to a four month hold period.
The proceeds of the flow-through private placement will be used for
qualified Canadian exploration expenses on the Company's mineral
properties in Canada.
The Company has agreed to pay a finder's fee to Limited Market Dealer
Inc. consisting of (a) a 5% cash payment of $25,000 and (b) 1,250,000
agent's options, each option exercisable at a price of $0.04, to
acquire one non flow-through common share of the Company and one-half
of one warrant, each full warrant having the same terms as the warrants
issued under the private placement.
About MineralFields, Pathway and First Canadian Securities�
MineralFields Group (a division of Pathway Asset Management), based in
Toronto and Vancouver, is a mining fund with significant assets under
administration that offers its tax-advantaged super flow-through
limited partnerships to investors throughout Canada as well as
hard-dollar resource limited partnerships to investors throughout the
world. Pathway Asset Management also specializes in the manufacturing
and distribution of structured products and mutual funds (including the
Pathway Multi Series Funds Inc. corporate-class mutual fund series).
Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities� is active in leading
resource financings (both flow-through and hard dollar PIPE financings)
on competitive, effective and service-friendly terms, and offers
investment banking, mergers and acquisitions, and mining industry
consulting, services to resource companies. MineralFields and Pathway
have financed several hundred mining and oil and gas exploration
companies to date through First Canadian Securities�.
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:
Doug Kerr:
Telephone: 604-638-0699
Toll Free: 1-866-580-0699
http://www.nanikaresources.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of the
information contained herein.
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Copyright (c) 2008 NANIKA RESOURCES INC. (NCV) All rights reserved.
For more information visit our website at
http://www.nanikaresources.com/ or send mailto:info@nanikaresources.com
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Nanika Resources Incorporation
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EXPLORATION STAGE |
CODE : NKA.V |
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CUSIP : 630018109 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Nanika resources Inc is a silver and gold exploration company based in Canada. Nanika resources Inc holds various exploration projects in Canada. Its main exploration properties are TED, MOLY KING PROPERTY, SCEPTRE AND TIARA, INDI, MUNN LAKE, SWEENEY LAKE, CAMSELL LAKE, LAC DE GRAS, LUCKY SHIP, MAC CLAIMS, VERNON and NWT CLAIMS in Canada. Nanika resources Inc is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 945 530 as of today (US$ 931 725, € 752 554). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.23, and its lowest recent point on July 05, 2012 at CA$ 0.01. Nanika resources Inc has 94 553 000 shares outstanding. |