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Nautilus Minerals Inc. (NUS: TSX-V) is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulphide deposits and is positioned to become a world leader in underwater mineral exploration. The company's main focus in 2006 is the Solwara Project, located in the territorial waters of Papua New Guinea in the western Pacific.
To fund an aggressive exploration and engineering program, on May 9, 2006, Nautilus completed an oversubscribed private placement of $25 million at $2.00 per share. No subscriber warrants or broker warrants were issued as part of this financing.
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