VANCOUVER, Nov. 7, 2011 /PRNewswire/ - 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, 2011.
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 statements.
SOURCE Nubian Resources Ltd.
