Toronto Ontario, November 1 2017 – Nautilus Minerals Inc. (TSX:NUS, OTC:NUSMF Nasdaq Intl Designation) (the “Company” or “Nautilus”) is providing an update to its funding requirements set forth in the Company’s September 26, 2017 press release (see links section below).
The Company continues to be in discussions with various parties involved in the manufacture of the Seafloor Production System, and the Company is making progress with respect to deferring some of its immediate cash flow requirements. As a result, the Company is updating its previous reference to a funding requirement of US$15 million by October 31, 2017 to a funding requirement of US$10 million by November 30, 2017.
There can be no assurances that the Company will be successful in securing the necessary additional financing transactions within the required time or at all. Failure to secure the necessary financing may result in the Company engaging specialist advisors and taking various steps aimed at maximizing shareholder value such as undertaking various transactions including, without limitation, asset sales, joint ventures and capital restructurings.
The Company will provide further updates as circumstances warrant.
- Nautilus Corporate Update – 26 September 2017
For more information please refer to www.nautilusminerals.com or contact:
Nautilus Minerals Inc. (Toronto)
Tel: +1 416 551 1100