Nubian Resources Ltd. (TSXV:NBR) announced a non-brokered private placement offering of 10,000,000 units at a price of CAD 0.42 per unit for gross proceeds of CAD 4,200,000 on August 7, 2020. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will be exercisable to purchase a common share at an exercise price of CAD 0.55 per warrant share for a period of 24 months following the closing of the transaction. The transaction will include participation from individual investor Eric Sprott. The company will pay finders' fees in cash equal to 6% of the gross proceeds and will issue broker warrants equal to 6% of the units pursuant to the transaction. Each broker warrant will entitle the holder to purchase one common share at a price of CAD 0.55 per share. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The units and the underlying securities to be issued under the transaction will have a hold period of four months and one day from closing. The transaction is expected to close on or about August 14, 2020.