Nikos Explorations Ltd.

Published : May 30th, 2016

Nikos Announces First Tranche Closing

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Nikos Announces First Tranche Closing

VANCOUVER -- Nikos Explorations Ltd. (TSX-V: NIK) ('Nikos' or the 'Company') is pleased to report that it has closed the first tranche of the private placement offering announced on its news release dated May 16, 2016.

The Company raised $132,000 through the sale of 1,650,000 units (the 'Units'). The financing was increased in size from an initial estimated 1,250,000 units due to investor demand. Each Unit includes one common share ('Share') of the Company and one Share-purchase warrant exercisable to purchase a Share of the Company at $0.15 for 24 months from today's closing.

The Company will use these proceeds for further exploration on the Company's Borden Lake Extension property near Chapleau, Ontario, and for general corporate purposes. In particular, the Company plans to conduct a geophysical survey using induced polarization in order to identify drill targets.

The Company's previously announced offering of up to 1,500,000 flow-through units ('FT Units') at $0.10 per FT Unit remains open. Each FT Unit includes one Share and one-half of a Warrant.

All securities issued in connection with the Placement are subject to a hold period of four months plus one day from the date of closing.

The scientific and technical content of this news release was prepared and approved by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.

About Borden Lake Extension:
The Borden Lake Extension Project covers an area of 36 square kilometres and lies approximately 5 km southeast of Goldcorp's Borden Lake high grade gold zone where exploration has defined underground constrained indicated resources of 1.6 MMoz grading 5.39g/t Au and inferred resources of 0.4 MMoz grading 4.37g/t Au. This zone remains open along strike to the southeast. In addition, a lower grade pit constrained indicated resource of 2.3 MMoz grading 1.03g/t Au has been defined. Exploration carried out by Nikos is the first known work on the property, which is located in the Kapuskasing Structural Zone. Nikos holds an option to earn a 100% interest in the property.

The Company has fulfilled the terms of the option agreement signed in December, 2012 and now owns the core claims 100% subject to a 2% net smelter return royalty. Together with the recently staked claims, Nikos owns 100% of 18 claims representing 63% of the property and has an option to earn a 100% interest in the remaining claims.

About Nikos Explorations:
Nikos Explorations is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in the Americas. The Company has 17,731,741 shares issued and outstanding and trades on the TSX Venture Exchange under the symbol NIK.

Roger Moss, PhD., P.Geo., is the qualified person for all technical information in this release.

For more information please contact: Roger Moss, President Tel: 416-704-8291

Or visit our website at: www.nikosexplorations.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.

Read the rest of the article at www.publicnow.com

Nikos Explorations Ltd.

EXPLORATION STAGE
CODE : NIK.V
ISIN : CA6539212051
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Nikos Expl. is a silver and gold exploration company based in Canada.

Nikos Expl. holds various exploration projects in Canada and in Nicaragua.

Its main exploration properties are ISLAND COPPER and COPPERCORP in Canada and NICARAGUA GOLD in Nicaragua.

Nikos Expl. is listed in Canada. Its market capitalisation is CA$ 4.8 millions as of today (US$ 3.7 millions, € 3.1 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.01, and its highest recent level on April 21, 2011 at CA$ 0.50.

Nikos Expl. has 25 080 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Nikos Explorations Ltd.
3/23/2011Enters Letter of Intent to Acquire Nicaraguan Gold Propertie...
Project news of Nikos Explorations Ltd.
3/23/2011(Nicaragua Gold)Enters Letter of Intent to Acquire Nicaraguan Gold Propertie...
Corporate news of Nikos Explorations Ltd.
6/8/2016Nikos Closes Second Tranche Of Private Placement
5/30/2016Nikos Announces First Tranche Closing
5/16/2016Nikos Announces Private Placement Financing
4/29/2016Nikos Stakes Additional Claims Increases Area Of Borden Lake...
3/29/2016Nikos Reports Visible Gold In Till From Borden Lake Extensio...
1/4/2016NIKOS Announces Private Placement Financing
12/19/2015NIKOS announces signing of memorandum of understanding with ...
11/26/2014NIKOS announces positive results of VLF survey and staking o...
5/22/2014NIKOS Announces Positive Results of Test VLF Survey and Opti...
9/23/2013Announces Positive Results of Soil Gas Hydrocarbon Survey at...
5/28/2013Announces Results of VTEM Survey Over Borden Lake Extension ...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (NIK.V)
0.190+5.56%
TSX-V
CA$ 0.190
12/18 13:19 0.010
5.56%
Prev close Open
0.180 0.180
Low High
0.180 0.190
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.190 -%
Volume 1 month var.
29,000 -%
24hGold TrendPower© : 34
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.05+0.43%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 8.91-2.73%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.59-3.26%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.05+10.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.06+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 12.67+0.88%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.34+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
 1.77-2.21%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.37-0.22%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.