TORONTO, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Nubian Resources Ltd. (TSX-V: NBR | OTCQB: NBRFF) (“Nubian” or the “Company”) announces that further to the Company’s press release of June 28, 2024 that provided disclosure on the closing of an initial tranche of a private placement financing (the “Private Placement”), Nubian confirms that no further funds were raised in the Private Placement and it is completed.

Pursuant to the initial and final tranche of the Private Placement, the Company issued 4,416,667 units (each, a “Unit”) at a price of $0.06 per Unit for gross proceeds of $265,000. Each Unit was comprised of one common share in the capital of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.08 until June 25, 2026.

In connection with the Private Placement, the Company paid finder’s fees of $10,150 and issued 169,166 finder’s warrants (each, a “Finder’s Warrant”) in accordance with the policies of the TSX Venture Exchange. Each Finder’s Warrant is exercisable at $0.06 into one finder’s unit (“Finder’s Unit”) until June 25, 2026. Each Finder’s Unit is comprised of one Common Share and one-half of one common share purchase Warrant.

ABOUT NUBIAN

Nubian Resources Ltd. is a publicly traded precious and base metals exploration company listed on the TSX Venture Exchange. The Company is managed by a team of experienced mining and geological professionals. Nubian’s projects are focused on key mining jurisdictions including Peru and Australia (central Victoria and Tasmania).

For further information, please contact:

Martin Walter, Chief Executive Officer, Nubian Resources Ltd., at +1-416-389-5692 or [email protected].

Neither the 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.

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "may" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Nubian’s current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Nubian’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.